According to the USDA, the current corn and soybean crops identified to be in good or excellent condition declined from the previous week, each finishing below analyst expectations. Corn: Corn silking as of the week ending Jul 12^th was 29% completed, finishing ahead of last year’s pace of 14% completed but below the five year average pace of 32% completed. 69% of the current corn crop was identified to be in good or excellent condition as of the week ending Jul 12^th, down two percent from the previous week. The current corn crop identified to be in good or excellent condition finished slightly below analyst expectations of 70%. Eight percent of the current corn crop was identified as very poor or poor, up two percent from the previous week. Soybeans: Soybean blooming as of the week ending Jul 12^th was 48% completed, finishing ahead of last year’s pace of 19% completed and the five year average pace of 40% completed. Soybean pod setting as of the week ending Jul 12^th was 11% completed, finishing ahead of last year’s pace of three percent completed and the five year average pace of 10% completed. 68% of the current soybean crop was identified to be in good or excellent condition as of the week ending Jul 12^th, down three percent from the previous week. The current soybean crop identified to be in good or excellent condition was below analyst expectations of 70%. Seven percent of the current soybean crop was identified as very poor or poor, up two percent from the previous week.