Northwest of Storm Lake

8/14/18

Past Weeks Rainfall  None
Soil Moisture Moderately dry
Temperature Normal to warmer than normal
Crop Progress 1 to 2 weeks ahead of normal

Corn

Soybeans

 

Crop Stage Dough Stage (Kernels still filling) Crop Stage Full pod to early seed
Yield Potential Excellent, except wet spots Yield Potential  Good to Average

Corn Market

Soybean Market

Current Prices  3.18 Current Prices 7.85
Fall Prices  3.28 Fall Prices  7.85
Past Weeks Trend 14 cents lower for the week Past Weeks Trend 35 cents lower for the week

Comments:

So far weather in August has been slightly warmer than average. Most areas in NW Iowa had 1 to 2 inches of rain during the first week of August which was very good timing. Dry weather in late July started to show up as crop stress in lighter soils. More rain would be helpful to crops particularly because of the warmer temps recently.

Corn is into the dough stage now. Kernels are about 70% moisture and have reached at least half of their mature dry weight. The warm May and June pushed corn ahead of normal schedule by 1 to 2 weeks, and the first half of August was also somewhat warmer than normal. Much of the early planted corn should reach full maturity in early-September. Harvest will be earlier than normal unless we get into a cold wet period. I expect yields will be very good (probably records on some farms), but a fast finish to the corn crop is not ideal. It will be interesting to see how that effects ear weights. Cool weather (especially at night) with plenty of sunshine is preferred this time of year in order to extend the grain fill period. The second half of August is forecast to be cooler with more rain which would be an improvement.

Soybeans are now making seeds and adding new pods at the tops of plants. Many farms (with good drainage) have potential for a good to very good soybean yields, but weather conditions over the next 2 to 3 weeks will make a big impact on them good or bad. Many fields are still being sprayed for soybean aphids.

Last Friday, the USDA released their updated world and U.S. crop estimates (WASDE Report). They estimated a bigger than expected U.S. corn and bean crop. Crop prices fell in response to this report (especially soybeans). U.S. crop condition ratings remain better than the 5 year average despite drought conditions in the South. Tariffs and trade war talks continue to weigh on the market. A positive resolution with our major trade partners would send the markets higher immediately.

Chad Husman

ChadHusman

Crop Update Archives – Please click on the links below to view the past pdf’s or click the green button for our Northwest Archives page

8-14-18

7-31-18

7-17-18

7-2-18

6-18-18

6-5-18

5-22-18

5-8-18

4-24-18

4-9-18