Southwest Iowa Crop Conditions

September 30th is USDA’s Quarterly Grain Stocks Report. Today’s report was
bullish for corn but bearish for soybeans, finding more beans in inventory
than industry analysts had presumed. Corn ended today 8 cents higher while
beans to a big hit at 46 cents lower. The next report is the monthly Crop
Production Report on October 12th. Changes to estimated crop yields are closely
monitored by the grain trade from now until the final report in January.

Harvest is underway, focusing mostly on soybeans. Yields are lower than last
year, as everyone would expect. However, we are pleased with many of the
yields which are running in the upper 50’s. A few lucky fields which caught
rain showers are doing better than that, but others with poorer soils and lacking
rainfall may be as low as the mid 30’s per acre. Some corn has been harvested,
again with the outcome dependent on luck with rainfall and soil quality. Some fields
are exceeding 200 bushels per acre while others are far below 100 bushels per acre.
Stewardship of soil moisture at planting time are also showing benefits. Heavy
tillage last spring during hot days with strong winds sapped at least an inch of
moisture. Saving that moisture with no-till or more timely tillage pays dividends
in yield outcome.

Northeast Iowa is one of the garden spots this year. In our area, the Highway 175
corridor was better than most for rainfall this summer. There are areas that
will show some excellent yields, but they’re much in the minority.

The Little Sioux River is now about a bucket more than the record low. The latest
reading was just over 8 cubic feet per second. Record low for this date was 7 cfs
in 1956. With no rain in the forecast, we’ll see new records being set.

Land values are maintaining earlier strength. If you’re looking to “buy the dip”,
it is not here yet. However, even during periods of strength, the occasional
“good buy” does occur for those who are prepared at the time.