According to the weekly Crop Progress report released after Monday's close, 94% of the U.S. corn crop had emerged by June 14, which was 1% above the five-year average. U.S. corn condition ratings stood at 68% good-to-excellent, up 1 percentage point from the previous week. The Brugler500 Index increased by 1 point to 373. Crop conditions improved in Ohio (+21), South Dakota (+14), Indiana (+7), and Minnesota (+4), while conditions declined in Iowa (-9), Missouri (-7), Nebraska (-10), and North Dakota (-2).

Weather forecasts continue to indicate widespread precipitation across most U.S. growing regions. Much of the Western Corn Belt is expected to receive at least one inch of rainfall. Further east and south, rainfall totals of 2 to 4 inches are forecast from eastern Nebraska to western Pennsylvania and from southern Minnesota, Wisconsin, and Michigan down to the Gulf Coast.

The U.S. Energy Information Administration (EIA) will release its weekly data on Wednesday. Traders expect ethanol production for the week ending Friday to show improvement after remaining steady in the previous report.