"Heavy rains cause more good than harm to US corn"

And this is exactly the point I got tripped up on yesterday. We had been seeing reports that farmers in the Midwest were getting such late starts planting that some were just going to give up and take the insurance money.
September corn 416'6 down another 2 cents after touching 414'2
From Agrimoney:

Ideas that heavy rains may be proving more beneficial than harmful to US crops received a boost when data showed the condition of corn showing a surprise improvement.

The proportion of US corn rated "good" or "excellent" rose by 1 point to 75% in the week to Sunday, cementing its place as the second-best-rated crop in the past 20 years, and beating market expectations for an unchanged figure.

The data showed that heavy rains in some northern areas, some of which received more than six inches over the week, indeed damaged crops.

In Minnesota, where the proportion of corn rated "good" or "excellent" dropped 5 points to 65%, "precipitation and wet field conditions continued to stress crops and delay alfalfa hay cuttings", USDA scouts said.

"Conditions declined for all crops during the week as a result of excess moisture and standing water."

'Difficult time applying herbicides'

In North Dakota, where the proportion of corn rated "good" or "excellent" dropped 4 points to 81%, crops faced "cool temperatures and excessive rainfall" l in the western half of the state.

Besides impairing crops directly, the conditions have "slowed fieldwork", scouts said, noting that farmers were "having a difficult time applying herbicides and cutting hay due to excessive moisture in the fields"....MORE

Yesterday:
Amount of Corn in Storage Sharply Bearish
Corn Gets Rocked on USDA Report: Acreage Planted Down 4%, Market Had Expected Lower
Possibly Market Moving News In This Morning's USDA Grain Report