Southwest Iowa Crop Conditions

Southwest Iowa Crop Conditions

Southwest of Storm Lake

Counties of: Woodbury, Ida, Sac, Monona, Crawford, Harrison, Shelby

Past Weeks Rainfall: Limited to fog and mist
Soil Moisture: Topsoil is dry. Some snow melt and rain, but has made little dent in drought. Most of this area is in D2 (severe) drought. Far western Woodbury and Monona Counties are extreme to exceptional drought (D3 and D4).
Temperature: Highs ranging from 40’s to 60’s. Warm next week. Lows in 30’s and 40’s.
Crop Progress: Nothing started yet.

Corn

Crop Stage: Fieldwork is likely to begin on Monday, day after Easter.
Yield Potential: Trend-line

Soybean

Crop Stage:
Yield Potential: Trend-line

Corn Market

Current Prices: $6.81/bu
Fall Prices: $5.26/bu
Past Weeks Trend: Cash has traded $6.40 to $6.95 since March 1st.

Soybean Market

Current Prices: $14.64/bu
Fall Prices: $12.56/bu
Past Weeks Trend: Cash has traded $13.75 to $14.90 since March 1st.

Comments:

Dennis Reyman AFM, ARA

USDA released its March 31st Planting Intentions and Quarterly Grain Stocks report last week. Corn is anticipated on 92 million acres, which is up 4% from a year ago. However, 40 of 48 states are estimated to be unchanged in acreage. The largest gainer is expected to be North Dakota; however, they continue to be covered in snow with more blizzards hitting this week. South Dakota and Minnesota are also snow-covered and definitely not candidates for early planting.

Soybeans are expected on 87.5 million acres with the largest gainers being North Dakota, South Dakota, Minnesota, and Wisconsin. We have a long way to go before planting would be considered late, but these acreage gains seem circumspect right now.

Corn stocks are down 7.4% from a year ago. Corn on the farm is only down 1% but corn in town is down 10%. Prices usually rise once the farmers are out of corn, so while this appears bullish, it may take a while to move prices much. Bean stocks were down 13% from a year ago. On-farm was little changed but off-farm was down by 21% from a year ago. Farmers remain bullish, hanging onto bushels.

Land values were basically steady in the first quarter. New highs were not posted but results came in right around expectations based on comparisons with earlier sales. Sale volume was high in the first quarter, the busiest first quarter in years in our database of sales.

Crop Update Achives

Please click on the links on the right to view the past pdf’s of our Southwest Crop Conditions reports.

Market Conditions

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