Yesterday, USDA reported that 71% of the corn crop was in “good” or “excellent” condition, which is line with last week’s 71%, and above last year’s 68%.
Corn and wheat futures prices rose during the last week, while soybeans fell slightly. Corn saw a 3% rise in the last week and are up 24% compared with the same time in 2009. Soybeans slipped 1% last week and are down 10% year-over-year. Wheat prices rose 3% over the last week and are up 44% year-over-year.