The ongoing drought has continued to wreak havoc on U.S. corn and soybean crop ratings, as seen in the latest USDA Crop Progress Report. Only 57% of corn was rated good to excellent condition, dropping 1% from last week, the lowest since 2012 (tied with 2019). South Dakota saw the most significant drop in corn conditions with a whopping 9%, followed by 7% in Iowa and a 5% decline in Missouri.

However, Colorado, Michigan, Minnesota and North Carolina all saw 4%+ increases in the corn rated good to excellent. Soybeans stand at 58% good to excellent, 1% lower than last week. Louisiana saw the most significant decline in soybean rating at a 9% drop, followed by Nebraska at 6%, Iowa at 8% and Kansas and South Dakota both dropping by 5% in the good to excellent range.

Read more on U.S. corn and soybean conditions here.