Northeast Iowa Crop Conditions

We have been fortunate to have had good growing conditions over the last two weeks, with mostly moderate rains and temperatures there are isolated trouble spots with too much rain or some hail, but overall the crop is progressing well. Most soybean herbicide application will be finished up this week.

Grain markets shot sharply higher after the 30th USDA acreage and stocks report. Both corn and soybean acres were lower than analysts expected, and since this survey was from June 1st, there is speculation that there will be further acreage reductions due to the very wet June in many locations in the Southern and Eastern corn belt. Grain stocks were also lower than expected, showing grain prices are helping demand.