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

Southwest of Storm Lake

08-14-2023
Past Weeks Rainfall Good overall rain on Saturday night and Sunday (5th & 6th), more showers since then.
Soil Moisture Topsoil is damp with 47% of west-central Iowa rated "adequate". Subsoil is rated short or very short on 2/3 of the area.
Temperature Highs in the upper 70's but headed to mid-90's. Lows in the 60's to low 70's.
Crop Progress Normal

Corn

Crop Stage Dough to early dent stages
Yield Potential Trend line or below

Corn Market

Current Prices $5.56
Fall Prices – October 2023 $4.48
Past Weeks Trend Lower

Soybeans

Crop Stage Flowering & podding
Yield Potential Trend line

Soybean Market

Current Prices $13.26
Fall Prices – October 2023 12.56
Past Weeks Trend Steady
Comments:

Rain beginning the first weekend of August has been a major blessing to revive many fields and help others to continue flourishing. Many fields and neighborhoods have missed too much rain for too long and August rainfall is sort of a "salvage" operation, especially for corn. Beans have good potential yet. How many fields will make new records for themselves? Probably some but not that many in this region of our territory.

Corn price has trended lower, as is normal for late summer. Beans have held closer to steady over the past several weeks. USDA's WASDE report for August raised the outlook for next year's average corn price to 10 cents to $4.90 and soybeans up 30 cents to $12.70. Both these are higher than the October bid, so USDA is projecting confidence that the market is probably not looking to trade too much lower over the next year. These estimates are altered monthly, of course.

Fertilizer prices have become very attractive this summer for fall application. If you have priced, it is worth a good strong look.

Dennis Reyman AFM, ARA

Dennis Reyman AFM, ARA
Email Author

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