U.S. Corn Crop Condition

USDA raised the corn crop condition rating by 2% from 62% up to 64% G/E. That was seen as a surprise and resulted in lower corn prices today. The 64% G/E compares to 71% G/E last year at this time. Based on USDA’s condition rating, the U.S. corn crop is pretty close to average with about half of the estimates over the last 20 years above and about half below.