Crop Conditions

Corn planting across Iowa is behind norma but this area is far ahead of normal. “Plant in dust, the bins will bust!”. We hope so! Right now, soil conditions are anywhere from good to perfect. Most farmers would probably enjoy a nice rain after the month turns to May.

Looking back, corn prices are 40 cents lower than a year ago but beans are about $1.25 better. However, new-crop corn for October delivery are about 15 cents higher than a year ago. New crop beans are $1.30 higher than a year ago. This is much needed to offset higher production costs. Nitrogen, phosphorous, and diesel are certainly higher. Other costs such as herbicides and fungicides are more of an expansion of costs rather than higher costs. Machinery and repair costs always climb. Check John Deere’s stock price since 2020!

The land market has been steady with a bit of strength in the best land. Off-quality farms may show softer price comparisons with earlier price levels. April and May are a quiet time in the land market. 2026 is no different. Volume will begin to increase in early to mid-summer.