According to the USDA, the percentage of corn and soybeans located within an area experiencing a drought each declined to five week low levels as of Jul 13^th but remained at nine year high seasonal 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 Jul 13^th, down one percent from the previous week but remaining at a nine year high seasonal level.

Corn:

Approximately 36% of corn production was within an area experiencing a drought as of Jul 13^th, down two percent from the previous week and reaching a five week low level.

The percentage of U.S. corn located in a drought state remained at a nine year high seasonal level, finishing significantly above the five year average seasonal level of just seven percent. U.S. corn located in a drought state remained below the 2012 seasonal level of 73%.

It is estimated that 40% of state-level corn acres had short-to-very short subsoil moisture as of the week ending Jul 11^th, down one percent from the previous week.

The percentage of U.S. corn with short-to-very short subsoil moisture remained at a nine year high seasonal level as of the week ending Jul 11^th but finished below the 2012 seasonal level of 81%.

Soybeans:

Approximately 31% of soybean production was within an area experiencing a drought as of Jul 13^th, down two percent from the previous week and reaching a five week low level.

The percentage of U.S. soybeans located in a drought state remained at a nine year high seasonal level, finishing significantly above the five year average seasonal level of just six percent. U.S. soybeans located in a drought state remained below the 2012 seasonal level of 74%.

It is estimated that 37% of state-level soybean acres had short-to-very short subsoil moisture as of the week ending Jul 11^th, down one percent from the previous week.

The percentage of U.S. soybeans with short-to-very short subsoil moisture remained at a nine year high seasonal level as of the week ending Jul 11^th but finished below the 2012 seasonal level of 80%.