Northeast Iowa Crop Conditions

Weather:
Warm and Dry again covers weather conditions this month. Temperatures have been a couple of degrees above average, mostly in the upper 80’s and Lower 90’s. only isolated showers have been received so far this month. Soil moisture is becoming depleted. Corn is nearing pollination, and a rain over the next 7 to 10 days is needed, especially if temperatures continue to stay above average.

Grain Markets:
The grain markets have started to rally on weather concerns, with soybeans bouncing $0.75 from recent lows and corn $0.35 higher. The ongoing Northern Plains drought is moving through the western corn belt, and the market is trading on daily forecasts. The general thought is that we are looking at slightly below trend line yields in the upper 160’s on corn and the upper 40’s for soybeans. These estimates are off of the record levels of the last two years. The next few week’s weather will determine if we can hold those yields or start losing potential to lack of moisture and excessive heat.