Saw my first bean field harvested this morning. No yield reports yet. Some fields are still green. Overall, crop progress is right on schedule. Expect corn and soybean harvest to occur on normal timing – mostly from late September to late October, assuming normal weather.
Yield expectations probably peaked around August 1st. Since then, Southern Rust and other issues have taken some yield off many corn fields, even some sprayed with fungicide. Those without fungicide will suffer noticeable yield loss. Soybeans probably could have benefitted from one good rain in late August. Overall, yields will be good and some will be great.
Cash corn prices have traded in the $3.70’s for the past three weeks. It posted its low on August 12th, the date of the August USDA report. Despite USDA posting a 188.8 national yield, corn price responded by moving slightly higher. Since September 1st, soybeans have traded in a 20-cent range as harvest beans.
Land sales activity is increasing as one would expect for this time of year. Results are basically steady compared to earlier in the year. The Realtors Land Institute showed west-central Iowa to be down 1.6% from March 1st to September 1st. Our sales database shows top-quality to be steady, good-quality slightly stronger, and lower-quality to be down in value.
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