Three weeks of sustained hot, dry weather across much of the United States has propelled the grain complex higher with corn leading the way.
After the markets closed, the Department of Agriculture reported that 40 percent of the U.S. corn crop was rated in good to excellent condition, a drop of 8 percentage points from the previous week and the biggest weekly decline in nine years.
Sizzling temperatures abated in the Corn Belt over the weekend, but rains this week were expected to miss the areas that need moisture most. Forecasts indicate that Iowa and Illinois, the two biggest U.S. corn and soybean producing states, should be mostly dry for the next 10 days...
http://www.reuters.com/article/2012/07/09/us-markets-grains-idUSBRE8681BN20120709
In the past 4 weeks I have been in Nebraska, South Dakota, Iowa, Kansas, Arkansas, Louisiana, and Missouri.
The only place I have seen less than good condition is in Southern Kansas and much has been in excellent condition.
I can't say anyhting, yet about Illinois, Indiana, or Ohio in the past 4 weeks except what I have heard in passing and that is that central Illinois and Indiana are hurting right now.
Believe me, I pay attention to grain and bean crops as I drive the roads. My job depends on them.