U.S. corn and soybeans are doing ok, but the spring wheat continues to struggle. The USDA says one-third of the U.S. corn improved in the last week, with overall conditions rated 65 percent good to excellent. Stone X Group Chief Commodities Economist Arlan Suderman says that’s significant. “Conditions are better in Iowa and Illinois, but North Dakota and South Dakota’s condition ratings declined.” Good corn ratings in the eastern Corn Belt are enough to offset the dryness in the north. In the last week, soybean conditions improved slightly. Two-thirds of the U.S. spring wheat crop is rated poor to very poor, continuing to decline from the previous week. “Minnesota’s crop had the greatest decline.” Suderman says the question is where crops go from here. Widespread heat could cause further decline in the next few days.
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