Written Commentary
US Corn Crop Condition (73% g/e) (no change)
Fringe states saw the biggest changes to crop conditions this week. The corn belt and northern plains shifted 1-2% one way or the other. The market expects to see conditions worsen over the next few weeks as we lead up to harvest. There are some signs of soputhern rust concerns in Nebraska and eastern Iowa.
US Soybean Crop Condition (69% g/e) (-1% change)
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Spring Wheat Crop Condition (48% g/e) (-1% change)
Crop conditions in Minnesota except the reality check, down from the 90% g/e last week. Wet conditions over some areas draw concerns about test weight. Otherwise protein content has been sufficient in early samples. Spring wheat harvest is 5% done as of Sunday, lead by Washington (24%) and South Dakota (23%). Currently spring wheat harvest is about 5% behind the 5-year pace. This is mostly due to rains in South Dakota slowing down the cut.
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