The conditions of American corn and soybeans have deteriorated, and a lower grain harvest is expected in Europe

US corn and soybean crop results declined this week, notes CRM Agri, referring to the latest US crop forecast report. While 92% of corn has emerged, well above the five-year average of 87%, the drought in the US has taken its toll on the crop. Corn yields now stand at 61% good to excellent, up from 64% last week. American soybean emergence is also well above average, reaching 86%, while the five-year average is only 70%. Like corn, U.S. soybeans also deteriorated last week, falling to just 59% good and excellent from 62% the previous week, British analysts said. The US winter wheat harvest is now 8% complete and the stand condition is still very poor, rising to 38% good to excellent. Spring wheat emergence is nearing 90% completion, but status readings are down to 60% from 64% last week. Almost all of Iowa is experiencing unusually severe drought, the CRM Agri team reported. Meanwhile, a decrease in the grain yield in the EU is expected. In terms of Europe, COCERAL lowered its ...