Yesterday, USDA reported that 71% of the corn crop was in “Good” or “Excellent” condition, below last week’s 73%, but in line with last year’s 71%.
Corn, soybean and wheat futures prices rose over the past week. ?Corn prices increased 6% over the past week and are 5% above year ago levels. Soybean prices rose 1%, but are down 20% year-over-year. Wheat prices rose 8% and are up less than 1% year-over-year.