This afternoon USDA reported that 46% of the U.S. corn crop has been harvested. That put this year 19% behind the 5-year average, but 15% ahead of last year’s pace.

Nearly three-quarters of the corn crop remains in "good" (50%) or "excellent" (24%) condition. This is in line with last week’s report of 75% and ahead of last year’s 62% of the crop in "good" or "excellent" condition.

Soybeans stand at 70% in the bin, which is well ahead of last year’s 53%, but somewhat behind the 5-year average of 76%.