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Unpredictable weather throughout the Corn Belt will continue to cause crop price volatility throughout the rest of the growing season.

As of July 7, 2013, 8% of the corn crop was in poor or very poor condition, compared to 30% last year. Corn in good or excellent condition was 68%, compared to 40% last year. Corn at the silking growth stage was only at 6% as of July 7, 2013, compared to 46% from a year ago.

95% of the U.S. soybean crop has emerged, compared to the five-year average of 97%. 7% of the soybean crop was in poor or very poor condition, compared to 27% last year. Soybeans in good or excellent condition were 67%, compared to 40% last year. Only 10% of the soybean crop was in the blooming growth stage thus far, 32% behind last year at this time.

Winter wheat conditions remained unchanged from last week with 42% of the crop in poor or very poor condition and 34% in good or excellent condition. As of July 7, 2013, winter wheat was 57% harvested, compared to the 78% last year at this time.

5% of the spring wheat crop was in poor or very poor condition, compared to 7% last year. Spring wheat in good or excellent condition was 72%, compared to 66% last year. Of the entire spring wheat crop, 45% was headed this week, compared to the five-year average of 53%.

The July corn contract increased 5.5% over the past week ending at $6.91 per bushel, soybean prices increased by 2.5% over the past week ending at $16.09 per bushel, and wheat prices ended the week at $6.60 per bushel, a 2.3% increase from last week. Year to year corn prices are down 5.6%, soybeans are down 3.4% and wheat is down 20.3%.

Source: Crop Progress: Maturity Severely Behind