On Monday afternoon, USDA released a new Crop Progress report for the week ending May 23. Corn planting progress was estimated at 93% complete, which was right on trade expectations. That was up 6% from the previous week and is 4% ahead of the five-year average. Corn emergence at 71% is running ahead of the five-year average of 62%. Corn condition ratings improved to 71% good to excellent, up from 67% last week. Soybean planting progress was within trade expectations at 53% complete, although it is 4% below the five-year average. Rain slowed progress last week, but warmer and drier weather should improve planting this week. Soybean emergence is at 24%, up 1% from the five-year average. Cotton planting jumped to 60% complete compared to 47% last week, but is running below the five-year average of 63%. Spring wheat planting is running right on average at 91% complete while emergence at 70% is 2% ahead of the five-year average. In the first rating of the season, spring wheat was pegged at 85% good to excellent. Winter wheat condition ratings held at 66% good to excellent again this week.