According to the USDA, the percentage of corn and soybeans located within an area experiencing a drought each continued to decline from the previous week as of the week ending Sep 7^th, reaching three month low levels.

U.S. Drought Monitor:

The U.S. Drought Monitor showed 46% of the continental U.S. being in a moderate-to-exceptional drought state as of Sep 7^th, down one percent from the previous week and reaching a three month low level. The moderate-to-exceptional drought state remained at an eight year high seasonal level, however.

Corn:

Approximately 30% of corn production was within an area experiencing a drought as of Sep 7^th, down two percent from the previous week and reaching a three month low level.

The percentage of U.S. corn located in a drought state finished slightly below previous year levels during the week ending Sep 7^th while remaining significantly below the 2012 seasonal level of 78%.

It is estimated that 44% of state-level corn acres had short-to-very short subsoil moisture as of the week ending Sep 5^th, down four percent from the previous week and reaching a six week low level.

The percentage of U.S. corn with short-to-very short subsoil moisture remained at an eight year high seasonal level as of the week ending Sep 5^th but finished significantly below the 2012 seasonal level of 89%.

Soybeans:

Approximately 26% of soybean production was within an area experiencing a drought as of Sep 7^th, down two percent from the previous week and reaching a three month low 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 ten percent. U.S. soybeans located in a drought state remained significantly below the 2012 seasonal level of 76%.

It is estimated that 42% of state-level soybean acres had short-to-very short subsoil moisture as of the week ending Sep 5^th, down three percent from the previous week and reaching a five week low level.

The percentage of U.S. soybeans with short-to-very short subsoil moisture finished slightly below previous year levels during the week ending Sep 5^th while remaining significantly below the 2012 seasonal level of 85%.