According to the USDA, corn and soybean emergence progress each remained ahead of five year average levels during the week ending Jun 13^th. The percent of corn and soybeans identified to be in good or excellent condition each finished below average analyst expectations, however.

Corn:

Corn emergence as of the week ending Jun 13^th was 96% complete, finishing ahead of last year’s pace of 94% completed and the five year average pace of 91% completed.

68% of the current corn crop was identified to be in good or excellent condition as of the week ending Jun 13^th, down four percent from the previous week. The current corn crop identified to be in good or excellent condition finished slightly below analyst expectations of 69%. Five percent of the current corn crop was identified to be in very poor or poor condition, unchanged from the previous week.

Soybeans:

Soybean plantings as of the week ending Jun 13^th were 94% complete, finishing ahead of last year’s pace of 92% completed and the five year average pace of 88% completed. Soybean planting progress finished slightly below analyst expectations of 95% completed, however.

Soybean emergence as of the week ending Jun 13^th was 86% complete, finishing ahead of last year’s pace of 79% completed and the five year average pace of 74% completed.

An additional ten percent of the total U.S. soybean crop emerged during the week ending Jun 13^th. Weekly increases in soybean emergence on a percentage basis were led by North Dakota, followed by Missouri and Virginia.

62% of the current soybean crop was identified to be in good or excellent condition as of the week ending Jun 13^th, down five percent from the previous week. The current soybean crop identified to be in good or excellent condition finished below analyst expectations of 65%. Eight percent of the current soybean crop was identified to be in very poor or poor condition, up two percent from the previous week.