The markets have a new read on crop conditions this week, but most saw a move in the wrong direction, with corn shifting lower for the fourth straight week.
Corn is now rated at 67 percent good to excellent, which is a two point drop from last week. Soybeans remain unchanged from last week’s report, holding at 67 percent good to excellent. The winter crop took a one point fall, coming in at 51 percent in the top category. Spring wheat was the only crop to see gains, but not by much, as it is holding at 72 percent good to excellent, up one point from last week’s read.
The latest drought monitor showed an uptick in dry conditions across the Corn Belt, but recent rains have helped the situation there. More wet weather is expected this week, which is good news for producers in those areas.
