Southeast Iowa Crop Conditions

The weather pattern has now changed to cool and wet. Nice rains last week are being supplemented by more
rain today. Below average temps will help extend the grain fill period and hopefully give the plants plenty of
opportunity to fulfill the remaining yield potential.

Corn is mostly in the dough stage and will likely begin to dent this week if it has not already. Yields are going to be
well below last year and likely below the recent average as well.

Soybeans are filling the lower pods and still adding pods near the tops of the plant. The recent rain will give us a
chance to still have a respectable soybean crop. Soybeans are different from corn as they seem to just hang on
and wait to see if we receive rain in late July and August. The overall yield does not seem to be as affected by
early season stress like we see in corn.

The markets are also noticing the recent rains and continue to decline. This year is acting a lot like 2016 when
the market put in the low on August 31st. That day also happens to be the day that price later contracts are
terminated at grain buyers.