Corn is showing 72% good to excellent in the latest USDA crop report, that's a drop of 5 percentage points from last week's rating. And those ratings were made before the long, hot Memorial Day weekend. The report shows about 92% of the corn crop has emerged, which is well ahead of the 69% five-year average.

Meanwhile, winter wheat ratings slipped as well sliding to 54% good to excellent from from 58% last week. The amount of wheat rated Fair to Very Poor rose to 46% from 42%.

The soybean crop is moving right along with 61% emerged and 89% planted. Both numbers are well ahead of the five-year average.

USDA report shows corn, wheat slipping in quality. Ratings occurred before holiday weekend's hot spell.

The spring wheat crop is now 96% emerged and the latest condition report shows an improvement with 79% of the crop rated good or excellent, which is 5% points above last week's report. Note that two weeks of condition reports is ahead of the average for spring wheat too, with no previous-year data available for comparison yet.

Cotton is now 76% planted and 57% is rated good to excellent in the first condition report of the season. And about 7% of the cotton crop is squaring, which is just ahead of average.

Hot weather in some areas and a lack of rain is causing concern with for corn with small plants with little to no deep rooting and no anchor roots. Higher winds can whip that corn and cause injury that could slow development later.

The quick-plant season of 2012 is bringing its own early weather market. A promise of rains later this week could make a difference in crop condition, which could help the crop recover from the holiday heat.

As for other crops, the sorghum crop is 63% planted; 87% of the peanut crop is in the ground; and 44% of the sunflower crop has been planted.