Monday’s USDA-NASS Crop Progress Report shows a two point gain in the overall corn condition rating with 62% good to excellent. Most of the top corn states saw slight improvement, but Iowa saw a three point slide. Only 61% is good to excellent this week. That’s nine straight weeks in which the Iowa corn condition has dropped. On June 19th it was 80% good to excellent. The drought monitor report which came out last Thursday showed Iowa slipping deeper into drought. 71% of the state is in some level of abnormal dryness or drought. 12% of Iowa is in D-2 or severe drought.
Turning to soybeans, there’s a one point drop-off this week. 59% is good to excellent. We see a downgrade in Illinois of one point, Iowa was down three points, Nebraska was down three points and Ohio was down three points.
In the south, cotton conditions climbed four points this week with 61% good to excellent. The peanut crop is showing some strength with 80% good to excellent, up a point from last week.