The June 14th crop condition rating showed the expected decline in corn and soybeans.
Earlier in the day, many traders commented that they were looking for a 2-3 percent reduction in the good to excellent category. Corn fell 4 percent, with Iowa leading the way. Soybeans were down 5 points and again, Iowa dropped the most.
Compared to last week, this would account for a significant drop since the crop was planted for both corn and soybeans.
Cotton planting is now at 90 percent complete, grain sorghum at 72 percent, and peanuts are nearly done at 92 percent, only 3 points behind the five-year average.
The winter wheat harvest is off to a very slow start, with Texas at 33 percent harvested, behind the five-year average of 55, and Oklahoma at 10 percent. Normally, they would be 41 percent completed by now.
Spring wheat conditions were down 1 point in the six top producing states and 37 percent of the crop in good to excellent shape.
The states with the most moisture deficit were in this order: Washington with the worst, then Oregon, South Dakota, Utah, and California.
Subsoil deficits were New Mexico with the driest, then Oregon, South Dakota, Michigan, and California.
