NW Service Area
NE Service Area
SW Service Area
SE Service Area

Southeast of Storm Lake

05-04-2021
Past Weeks Rainfall 0.5 to 3 inches
Soil Moisture Short to adequate
Temperature Below Average but warming
Crop Progress Planting well underway

Corn

Crop Stage 95% Planted
Yield Potential 100%

Corn Market

Current Prices $7.12
Fall Prices – 2021 $5.45
Past Weeks Trend Higher

Soybeans

Crop Stage 70% Planted
Yield Potential 100%

Soybean Market

Current Prices $15.73
Fall Prices – 2021 $12.98
Past Weeks Trend Higher
Comments:

Planting has been in full swing SE of Storm Lake since about April 23rd and progressed a tan impressive rate since. According to the USDA Crop Progress report released on May3rd, 69% of Iowa is planted and up 45% over the 5 year average. Soybeans are on a similar trajectory of 43% planted and up 29% over the 5 year average. Locally, SE of Storm Lake, that percentage is higher on corn and soybeans (see Crop stage listed above). Corn planted April 24th or earlier is beginning to emerge.

Soil conditions have been favorable to widespread planting with average daily soil temperatures warming nicely to the low to mid 60s. Subsoil moisture has been present by most reports. Many operators are planting soybeans a little deeper than normal to insure the seed is in moist soil.

The charts included above help tell the story of spring up to this point. Starting with the diagram to the top which divides Iowa into 9 different weather districts and are colored coded based on their respective rank on total precipitation over the month of April over the past 129 years. SE of Storm Lake would fall into the districts numbered 118 and 128 (top left corner of district numbered 128 is Webster County as a point of reference). The chart is ranked 1 being the wettest (blue shades) and 129 being the driest (brown shades) show why the planting progress advantaged at such a high rate.

The diagram on the bottom is showing number of days (numbered 0 to 80) it took to accumulate at least 1 inch of precipitation with the data being complied on May 3rd. The red X signifies where Storm Lake is located. This is an excellent visualization of the rain event that passed through during the overnight hours of May 2nd and the morning hours of May 3rd. Blue areas are the ones that received the measurable amounts of rainfall during that event. Reports ranging from 3 inches to 0.5 inches respectively.

This rain event was ideal for germination of planted crops and activating the PRE emerge herbicide most operators rely on for holding back the initial flush of weeds.

Extended weather outlooks are showing slightly below average temperatures with mostly average to slightly above average chances of precipitation.

Markets continue to impress. Currently, the bullish crop markets are being fed news of increasing drought conditions in Brazil/ South America affecting the Safrina corn and expected Chinese buying. Locally, positive basis at all elevators on old crop is showing strong domestic demand. Basis has also narrowed slightly on new crop (roughly $0.03 on corn and $0.10 on soybeans) since the first of the year.

Luke Pearson

Luke Pearson
Email Author

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