According to the latest Crop Progress report from USDA, some 96% of corn was reported emerged, above both the 94% emerged last year and the 90% emerged in the week prior. The 5-year average emergence rate for this week was 91%.

Some 56% of corn crops were reported in "good" condition, with another 12% in "excellent" condition and 27% in "fair condition."

USDA also reported 94% of soybeans have been planted, an increase from the 92% planted by this point last year. This also surpasses the 88% 5-year average.

According to the report, 86% of soybeans have emerged, above the 79% reported emerged in the same week last year. The 5-year average for soybean emergence in this week was 74%.

Some 53% of soybean crops were reported in "good" condition, with another 9% in "excellent" condition and 30% in "fair condition."

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