Southwest of Storm Lake
| Past Weeks Rainfall | Good general rain over the past weekend. Good chances in the forecast. |
| Soil Moisture | Topsoil has had a good drink but can handle more any time. Subsoil is still mostly dry to very dry. |
| Temperature | Highs in the mid to upper 70's. Lows in the mid 50's. |
| Crop Progress | Excellent |
Corn
| Crop Stage | Most corn is planted. My estimate is 90% for this area. |
| Yield Potential | Trend-line or better |
Corn Market
| Current Prices | $6.50 |
| Fall Prices – October 2023 | 4.86 |
| Past Weeks Trend | May have a short-term bottom |
Soybeans
| Crop Stage | My estimate is 50% planted. |
| Yield Potential | Trend-line or better |
Soybean Market
| Current Prices | $13.94 |
| Fall Prices – October 2023 | $11.86 |
| Past Weeks Trend | Downtrending |
Comments:
Soil conditions have been excellent. The biggest issue was cold temperatures in late April into the first few days of May. Recent temperatures are very seasonal and pleasant. Good rains over this past weekend provided most areas with at least enough to moisten the seeds to spur germination and emergence. For right now, conditions are very good. More rain is welcome.
Crop prices down trended so far in April. Corn may have found a short-term bottom this week. Time will tell. On average, the time of highest corn prices is sometime in early June. Cash highs so far have been in the low $7 range, beans just over $15. Recovery near those levels should be utilized to clean up old-crop sales and make new-crop sales. A last-gasp high sometimes occurs during the first 12 days of July. Rallies after that require substantial weather concerns.
This is the “slow” time of year for land sales. The few sales occurring have maintained with winter-time price levels.
Dennis Reyman AFM, ARA
Email Author
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