According to the USDA, corn and soybean emergence progress each remained ahead of five year average levels during the week ending Jun 6^th. The percent of corn and soybeans identified to be in good or excellent condition each finished below average analyst expectations, however.

Corn:

Corn emergence as of the week ending Jun 6^th was 90% complete, finishing ahead of last year’s pace of 87% completed and the five year average pace of 82% completed.

72% of the current corn crop was identified to be in good or excellent condition as of the week ending Jun 6^th, down four percent from the previous week. The current corn crop identified to be in good or excellent condition finished below analyst expectations of 74%. Five percent of the current corn crop was identified to be in very poor or poor condition, up one percent from the previous week.

Soybeans:

Soybean plantings as of the week ending Jun 6^th were 90% complete, finishing ahead of last year’s pace of 84% completed and the five year average pace of 79% completed. Soybean planting progress finished below analyst expectations of 92% completed, however.

Soybean emergence as of the week ending Jun 6^th was 76% complete, finishing ahead of last year’s pace of 65% completed and the five year average pace of 59% completed.

An additional 14% of the total U.S. soybean crop emerged during the week ending Jun 6^th. Weekly increases in soybean emergence on a percentage basis were led by New York, followed by Pennsylvania and Louisiana.

67% of the current soybean crop was identified to be in good or excellent condition as of the week ending Jun 6^th. The current soybean crop identified to be in good or excellent condition finished below analyst expectations of 70%. Six percent of the current soybean crop was identified to be in very poor or poor condition.