USDA is reporting that 71% of the corn crop is in “good” or “excellent” condition, which is down from last week’s 72% but better than last year’s 70%.
Pricing for all of the major grain commodities rose during the last week. Corn prices increased 7% and are 9% above year-ago levels. Soybean prices rose 6%, but are down 10% compared with the same period a year ago. Wheat prices improved by 18% vs. the previous week and are up 26% year-over-year.