Yesterday, USDA released its weekly crop progress report. With 87% of the corn crop now planted, it is far ahead of last year’s crop (61%) and the average pace over the last 5 years (78%). Additionally, 55% of the corn crop has now emerged, compared with 28% emerged at this time last year and the 5-year average pace of 39% emerged.

USDA also reported that 66% of the winter wheat crop is in “good” or “excellent” condition, ahead of the 48% reported the prior year.