USDA crop progress/condition report highlights

The USDA said Monday night that 95% of the corn crop was now in the ground as of Sunday. Up 7 points from last week's 88% and in line with expectations.

Corn is 74% emerged, well up on last week's 52% but down on 92% a year ago and 89% on the five year average.

The USDA say that 63% of the crop is rated in good/excellent condition, bang on expectations of 60-65% and well below last year's 78% figure.

Beans are pegged at 69% planted, slightly lower than the 70-75% range anticipated by the trade, and well down on 86% a year ago and 81% on average.

Beans emerged are 32%, half of this time a year ago.

Winter wheat crop condition is 47% good/excellent, unchanged on last week.

The report pretty much confirms opinion that this years crops are late into the ground, but will the trade view this as old news that is already factored into the market? We shall know in the morning.