Crop Progress & Condition Report

US corn crop conditions 73% g/e vs 74% expected (73-74% range), 74% last week, 68% last year
US soybean crop conditions 74% g/e vs 73% expected (71-74% range), 73% last week, 64% last year
Corn 24% harvested vs 25% expected (23-30% range), 15% last week, 27% average
Soybeans 26% harvested vs 25% expected (22-28% range), 10% last week, 27% average
Winter wheat 43% planted vs 47% expected (40-50% range), 30% last week, 45% average

December corn placed a outside day key reversal on Friday and continued the pattern today. The 16 ¾ cent rally over the past 2 days is the biggest two day gain in over a year. The only realistic reason behind the rally would be some rain in the forecast. Harvest is already dragging the 5 year average. The next 5 days has a decent amount of rain scheduled to hit northern Missouri the most, with very good coverage across all of Iowa and into Minnesota and western Illinois.