Crop conditions were released this afternoon with a 2% decline in the good/excellent ratings for both corn and soybeans. Iowa crops continue to decline for both corn and beans with a 3% loss in g/e ratings. Iowa corn is now 20% g/e while beans came in at 25% g/e. The big changer for corn was Pennsylvania increasing in rating 6% to 49% g/e. Soybean big changers where Kansas and Mississippi decreasing their rating 7% for g/e. After a good week of rains in the eastern corn belt both corn and bean ratings increased but at a slower rate than the western corn belts loss. Today was possibly a buy the rumor sell the fact kind of day with traders feeling the 2-4% estimated decline in g/e ratings wasn’t enough. At this point in the season g/e ratings may not mean much to corn. Expect these numbers to be slightly bearish for the overnight opening for both corn and beans.