Corn Condition Unchanged, Soy Down 1% From Last Week

Corn condition unchanged, soybeans down 1%. Corn condition G/EX unchanged vs. last week at 61% (as expected), soybeans -1% to 62% (63% forecast). Prices have pulled back in recent weeks with Corn back to $5 Corn, $13 Soybeans) needed for incremental equipment investment. We are closely watching condition reports through August as corn G/EX ending in the low 60s could prove a clearer supply catalyst for prices to move higher post-harvest particularly should a resolution to the Iran conflict prove