Southwest of Storm Lake

Crop Conditions as of 6-24-20

Past Weeks Rainfall Light rain this past weekend, seasonal temps this week.
Soil Moisture Topsoil and subsoil are mostly adequate but some dry areas.
Temperature Highs in the 80’s to 90 this week. Lows in 60’s to 70’s.
Crop Progress Week ahead of schedule.

Corn

Soybeans

Crop Stage Most corn is over knee-high to waist high with good color. Crop Stage Most beans are 8-12″ tall and beginning to flower.
Yield Potential Trend-line or better Yield Potential Trend-line or better

Corn Market

Soybean Market

Current Prices  $2.98 Current Prices  $8.18
Next October Prices  $2.89 Fall Price  $7.85
Past Weeks Trend Generally trading within 5 cents of $3.00. Past Weeks Trend Slightly higher.

Comments

June has been warm with over half the days in early June hitting 90 or higher. However, the cool May weather has total heat units only a little ahead of normal. For the most part, moisture levels are good but hot, windy days sap it out pretty fast. Corn fields are now pretty well-shaded. Bean fields planted in narrow rows are fairly well covered and many are planted no-till so between plant vegetation and crop residue, the ground is well-covered. Corn spraying has wrapped up and early bean spraying is done. Post-emerge bean spraying will continue for a few weeks, then insecticides and fungicides will start being applied. Generally, we have a good set-up for high yields in this area. Root systems were challenged to go deeper during early June, which is always good.

Crop prices have struggled slightly higher but are mostly range-bound. Corn is give-or-take of $3.00/bushel. Beans have worked back into the $8.20 to $8.30 range. China buying in June has helped. The past few days have seen Brazil’s leadership take issue with China. Perhaps that will help the US sell them a few more beans.

Dennis Reyman, AFM, ARA

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