According to the USDA, the percentages of corn and soybeans located within an area experienced a drought each reached eight year high seasonal levels as of May 18^th.

U.S. Drought Monitor:

The U.S. Drought Monitor showed 44% of the continental U.S. being in a drought state as of May 18^th, down two percent from the previous week but remaining at an eight year high seasonal level.

Corn:

Approximately 24% of corn production was within an area experiencing a drought as of May 18^th, unchanged from the previous week. The percentage of U.S. corn located in a drought state reached a two month high level of 26% throughout the first week of May, prior to finishing slightly lower throughout the most recent two weeks of available data.

The percentage of U.S. corn located in a drought state reached an eight year high seasonal level, finishing significantly above the five year average seasonal level of just two percent. The current percentage of U.S. corn located in a drought state finished above the seasonal level experienced throughout the 2011-2012 drought but remained below 2012-2013 seasonal levels.

Soybeans:

Approximately 22% of soybean production was within an area experiencing a drought as of May 18^th, up two percent from the previous week and reaching a two month high level.

The percentage of U.S. soybeans located in a drought state remained at an eight year high seasonal level, finishing significantly above the five year average seasonal level of just two percent. The current percentage of U.S. soybeans located in a drought state finished above the seasonal level experienced throughout the 2011-2012 drought but remained slightly below 2012-2013 seasonal levels.