The U.S. corn crop remains in better than normal condition, and corn soybean and wheat futures prices all rose in the last week.
Yesterday, USDA reported that 69% of the corn crop was in “Good” or “Excellent”
condition, below last week’s 70%, but in line with last year’s 69%. The agency also said that 64% of the soybean crop was in “Good” or “Excellent” condition, in line with 64% last year at this time.
Corn prices increased 6% over the past week and are 49% above year-ago levels.
Soybean prices rose 3% in the same period and are up 8% year-over-year. Wheat prices increased 5% over the past week and are up 63% year-over-year.