Because of persistent and often generous rains in the southern Corn Belt and Midsouth, only another 4% of the soybean crop got planted last week. USDA reported Monday afternoon that 91% of the crop had been planted as of this past weekend. Using USDA initial soybean plantings estimate, that calculates out to 6.84 million unplanted acres. However, dry conditions this week should allow for rapid completion of the soybean planting season, with the exception of double-cropped acres that must wait until after wheat is harvested.

The concern is how much yield potential has been lost in fields planted after June 15. Only 84% of the soybean crop nationwide had emerged as of this past weekend. The five-year average for emergence is 90%.

The soybean crop that is up and growing is in pretty good shape. USDA now says 67% of soybean acreage is in good or excellent shape, up from 66% last week.

The corn crop held its own at 70% good/excellent. A year ago only 59% of corn acreage was rated that highly. We continue to hear glowing reports about the crops in Iowa, Minnesota and Nebraska. USDA's crop scouts agree, as 80% or more of the corn crop in each of those states is rated good or excellent. On the other hand, the Illinois crop went from 56% good/excellent to only 50%.

Editor’s note: Richard Brock, Corn & Soybean Digest's marketing editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.