According to the USDA, the percentage of corn and soybeans located within an area experiencing a drought each declined from the previous week but remained at nine year high seasonal levels.

U.S. Drought Monitor:

The U.S. Drought Monitor showed 47% of the continental U.S. being in a moderate-to-exceptional drought state as of Jun 29^th, down one percent from the previous week but remaining at a nine year high seasonal level.

Corn:

Approximately 38% of corn production was within an area experiencing a drought as of Jun 29^th, down three percent from the previous week and returning to a three week low level, overall.

The percentage of U.S. corn located in a drought state reached a nine year high seasonal level, finishing significantly above the five year average seasonal level of just five percent. U.S. corn located in a drought state remained below the 2012 seasonal level of 43%.

It is estimated that 39% of state-level corn acres had short-to-very short subsoil moisture as of the week ending Jun 27^th, down six percent from the previous week and returning to a three week low level, overall.

The percentage of U.S. corn with short-to-very short subsoil moisture remained at a nine year high seasonal level as of the week ending Jun 27^th but finished below the 2012 seasonal level of 65%.

Soybeans:

Approximately 33% of soybean production was within an area experiencing a drought as of Jun 29^th, down three percent from the previous week and returning to a three week low level, overall.

The percentage of U.S. soybeans located in a drought state reached a nine year high seasonal level, finishing significantly above the five year average seasonal level of just four percent but remaining below the 2012 seasonal level of 48%.

It is estimated that 36% of state-level soybean acres had short-to-very short subsoil moisture as of the week ending Jun 27^th, down five percent from the previous week and returning to a three week low level, overall.

The percentage of U.S. soybeans with short-to-very short subsoil moisture remained at a nine year high seasonal level as of the week ending Jun 27^th but finished below the 2012 seasonal level of 64%.