According to the USDA, the percent of corn identified to be in good or excellent condition as of the week ending Jul 4^th finished unchanged from the previous week, consistent with analyst expectations. The percent of soybeans identified to be in good or excellent condition as of the week ending Jul 4^th declined one percent from the previous week, however, finishing slightly below analyst expectations.

Corn:

Corn silking as of the week ending Jul 4^th was ten percent complete, finishing slightly ahead of last year’s pace of nine percent completed but behind the five year average pace of 14% completed.

An additional six percent of the total U.S. corn crop exhibited silking during the week ending Jul 4^th. Weekly increases in corn silking on a percentage basis were led by Arkansas, followed by Virginia.

64% of the current corn crop was identified to be in good or excellent condition as of the week ending Jul 4^th, unchanged from the previous week but up one percent in the ‘excellent’ category. The current corn crop identified to be in good or excellent condition finished consistent with analyst expectations. Nine 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 blooming as of the week ending Jul 4^th was 29% complete, finishing equal to last year’s pace and ahead of the five year average pace of 24% completed.

An additional 15% of the total U.S. soybean crop bloomed during the week ending Jul 4^th. Weekly increases in soybean blooming on a percentage basis were led by Minnesota, followed by Nebraska and Wisconsin.

Soybean pod setting as of the week ending Jul 4^th was three percent complete, finishing slightly ahead of last year’s pace of two percent completed and equal to the five year average pace.

59% of the current soybean crop was identified to be in good or excellent condition as of the week ending Jul 4^th, down one percent from the previous week. The current soybean crop identified to be in good or excellent condition finished slightly below analyst expectations of 60%. 11% of the current soybean crop was identified to be in very poor or poor condition, up two percent from the previous week.