USDA released a new Crop Progress report on Monday afternoon, July 30th.

Corn condition ratings fell to 58% good to excellent from 62% the previous week. Soybean ratings also declined with good to excellent ratings for 58% of the crop versus 61% the previous week. Spring wheat crop ratings showed a larger decline, falling from 75% good to excellent to 68%. Cotton now stands at 54% good to excellent from 56% the previous week.

However, crops are maturing ahead of normal. Soybeans are 85% blooming compared to the 5-year average of 81% and 51% are setting pods versus 41% normally. The corn crop is 90% silking, up 8% from the 5-year average, and 25% in the dough stage, up 5% from normal. Sorghum is 49% headed and 27% coloring, up 4% and 7% respectively from the 5-year averages. Winter wheat harvest is nearing completion at 88% done as of Sunday. The 5-year average is 86%.