Northwest Iowa Crop Conditions

Crops in Northwest Iowa look very good so far. Corn is especially looking good as it races toward pollination. We
should start to see the first tassels in about 10 days or so. The corn is in a vulnerable stage to wind and hail
damage, just prior to tasseling. Unlike areas to the south, rainfall during the second half of June has been light and variable. Some areas are on the threshold of being too dry. If we can catch a nice rain or two and have moderate temps in July, we should have a good corn crop this fall.

Soybeans are still too hard to judge. They are somewhat small for this time of year. They are benefiting from the
dryer weather recently and are starting to grow more rapidly. We have potential for a good soybean crop, but
weather conditions in July and August will be the biggest factor to determine yields.

Excessive wet weather in the Southern and Southeast corn belt has created a rally in the grain markets. Corn has
rallied over 40 cents/bu and soybeans have jumped around a dollar. Carrying a June wet weather market into July
is very difficult historically, but forecasts this week call for more rain in the wettest areas again.