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TODAY'S LAND OWNER

Crop Conditions

Where we serve in Iowa
Past Weeks Rainfall: Good general rains.
Soil Moisture: “Abnormally dry” area has shrunk back to the western 30-40 miles of Iowa. Abnormally dry covers all or part of half the counties in our territory, normal in the others. Dry to very dry topsoil is down to 19% of west-central Iowa. 65% is adequate, 16% surplus. Dry to very dry subsoil covers41% of west-central Iowa. 54% is adequate.
Temperature: Temps are tyical for this time of year, 80’s to 90 for highs. 7-day forecast shows highs mostly 85-90. Growing degree days (heat units) are slightly behind last year.
Crop Progress: Corn and beans are about a week behind normal but improving.

Corn

Crop Stage: Most is 4-5′ tall
Yield Potential: Normal or better

Soybean

Crop Stage: Around a foot tall, beginning to bloom
Yield Potential: Normal

Corn Market

Current Prices: $4.15/bu
Fall Prices: $3.98/bu
Past Weeks Trend: Range bound

Soybean Market

Current Prices: $10.09/bu
Fall Prices: $9.87/bu
Past Weeks Trend: Range Bound

Comments:

Dennis Reyman AFM, ARA

Corn appearance has improved considerably in the past two weeks. Most fields are dark green as the roots are well-watered and into the nitrogen. Soybeans are starting to pick up as well, although still behind normal in vegetative growth. Shortening daylight brings soybeans into bloom. Pod set will follow.

June is historically the time when corn posts its high or at least the upper end of the price rang. Not so this year. Only one day did the corn price reach the halfway mark of its price range for the year. This is the 3rd poorest performance in the past 20 years. Soybeans traded relatively flat during June before falling a bit in late June.

Yesterday’s announcement (7-2) of a trade deal with Vietnam spurred both corn and soybean prices. If more trade deals are announced this weekend, it may stimulate the market for a few days. Weather will likely regain the headlines as we’re entering prime “weather season” for crop development.

Have a wonderful Independence Day weekend as we begin to celebrate the 250th year of the United States of America!

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