Southwest Iowa Crop Conditions

Good field work progress this past week. Most fields are planted and those farmers not done are getting close. Most corn fields have emerged in good shape. Stands are pretty even. Beans are emerging and appear to have missed getting nipped by late frost on Saturday night. Rain is forecasted for mid-week with 80-90% chances on Tuesday and Wednesday. What we really need is a good, wet Memorial Day weekend. That would disappoint most non-farmers but I doubt any complaints would come from farmers.

Northern areas of the Corn Belt remain far behind schedule. Minnesota, South Dakota, Michigan, and Wisconsin all made good progress this past week to get up to about 60% planted on corn, but North Dakota lags at only 20% planted. This is getting late enough that top-end yields are not likely in the northern Corn Belt. Even Illinois and Indiana sit at only 78% and 64% planted, while Iowa is close to average pace at 86% of its corn planted, along with Nebraska at 85%.

Soybeans are 50% planted nationally which is not far behind the 5-year average. Iowa is 69% planted which is right on the average. Soybeans can achieve decent yields despite later planting.

Corn prices continue to hover around $8.00 old-crop and $7.00 new-crop, while beans have risen slightly into the mid $16’s on old-crop and mid $14’s on new-crop. These are not new highs but a retracement to late-April prices. We recall a number of years when Spring prices were not maintained as the growing season turned favorable and concern about crop size declined. With all the external factors at play this year, it makes it difficult to find truly corollary years.