Soybean condition ratings start at the fourth best of all time.

The second corn condition rating of the year was released. USDA lowered last week's 75% good/excellent rating by 1%. It is now 74%. The trade estimate was 74%. It is relatively normal for ratings to drop from here. We would not suggest it is really falling conditions.

Corn planting advanced from 91% complete to now 95% as of Sunday. The expectation was 96%. This is the last planting estimate.

The first soybean condition rating of the year was released. USDA posted it at 72% good/excellent, on the trade expectation. This is tied for the fourth best start of all time. Ratings are not a good predictor of yields so early in the season. However, a relatively inaccurate model would suggest we are starting out +2.2% vs. 52.0 bpa trend yield to now 53.2 bpa.

Nationwide soybean planting advanced from 78% complete to now 87% over the past week. The trade expectation was 89%. The five year average is 84%.

The second spring wheat rating was released. , 74% good/excellent. That was over the 69% expectation. Of the past 30 years this number is tied for the 8th best start.

Planting pushed to 93%. The trade expectation was 90%. The five year average, impacted by slow years, is 65%.

Winter wheat ratings slipped 2% in the latest week to 47% good/excellent condition. The trade expected no change at 49%. The five year average for this week is 47%.

Harvest was reported at 12% complete, over the 6% five year average. The trade expected 13%.

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