Corn conditions are down 3% on last year levels, with 70% being reported good/excellent, according to latest USDA reports. However, this is up by 1% MoM. The majority of corn is almost ready for harvest, with 96% of the corn at or beyond the silking stage, and 50% in the even later doughing stage, in line with the 5 year average.
Nationally, 63% of soybean conditions is rated to be good to excellent, dropping 7% YoY, but also up 1% MoM. Soybeans setting pods accounts for 69% national wide, 1 point lower than last year and 3 points behind 5-year average.
Similar to the past 60 days, US corn and soybean belts are expected to experience up to 0.5inches above average rainfall in the next month, with much lower temperatures then normal, according to world weather forecasts.