According to the latest Crop Progress report from USDA, some 90% of corn was reported emerged, above both the 87% emerged last year and the 81% emerged in the week prior. The 5-year average emergence rate for this week was 82%.

Some 58% of corn crops were reported in "good" condition, with another 14% in "excellent" condition and 23% in "fair condition."

USDA also reported 90% of soybeans have been planted, an increase from the 84% planted by this point last year. This also surpasses the 79% 5-year average.

According to the report, 76% of soybeans have emerged, above the 65% reported emerged in the same week last year. The 5-year average for soybean emergence in this week was 59%.

Some 57% of corn crops were reported in "good" condition, with another 10% in "excellent" condition and 27% in "fair condition."

Click here for the full report.

Click here for more Industry News.