69% of Corn, 64% of Soybeans in ‘Good’ or ‘Excellent’ Condition

 The U.S. corn crop remains in better than normal condition, and corn soybean and wheat futures prices all rose in the last week.

 Yesterday, USDA reported that 69% of the corn crop was in “Good” or “Excellent”

condition, below last week’s 70%, but in line with last year’s 69%. The agency also said that 64% of the soybean crop was in “Good” or “Excellent” condition, in line with 64% last year at this time.

 Corn prices increased 6% over the past week and are 49% above year-ago levels.

Soybean prices rose 3% in the same period and are up 8% year-over-year. Wheat prices increased 5% over the past week and are up 63% year-over-year.