USDA Crop Progress Report August 6, 2012: Deterioration

50% of corn now poor or very poor vs. 48% last week.
At this point in the growing season the damage is  irreversible.
After trading as low as $7.8925 earlier today the futures are changing hands at $8.0305 in electronic trade.
From Bloomberg:
USDA: Corn, soy crops grow slightly worse

The U.S. Department of Agriculture says the condition of country's corn and soybean crops hasn't gotten much worse in the past week but large portions remain in poor shape amid widespread drought.

The USDA's weekly Crop Progress report said Monday that half of the nation's corn is in poor condition. A week earlier 48 percent was in poor shape....MORE

Here's the CPR (14 page PDF)

Here are the state level conditions.