Even after weekend rains that may have been observed before Sunday's reported status of crop conditions, USDA's weekly Crop Progress report shows corn and soybeans deteriorating, but at the upper end of trade expectations.

CORN

In its report, the USDA pegged the U.S. corn good/excellent rating at 65%. The trade expected 63% to 65%. That's below last week's rating of 68% good to excellent and well below the five-year average of 71%.