2018 Early Summer Update

In general corn and soybeans in SW Iowa and Eastern Nebraska were planted in a very timely manner.  Although we had cooler than normal early spring temperatures the recent warm/hot weather pattern has pushed along both crops very rapidly.  Both corn and soybeans are maturing quickly and I would say we are currently ahead of last year.  Most corn in the area is between waist and chest high and some early maturing hybrids are within a week of tasseling.  Most soybeans in the area are between 10-16″ tall and some have started to bloom.  Recent heavy rains in the area have left fields water-logged and has delayed post spraying on many soybean fields.  We have not seen any significant flooding in our area and most water-logged fields should recover.  However, there is more rain in the forecast for early next week before a return to warmer and drier weather. Weed control in most fields is fair but problem weed this year are waterhemp and volunteer corn.  With a return to a drier weather pattern the soybeans should be post sprayed within the next week or so.  Commodity prices have fallen dramatically due to good growing conditions across the corn belt and the tariffs placed on US soybeans.  We have made some very favorable forward contract sales of both corn and soybeans for fall delivery and will wait and seed what the markets does in the coming months to determine if we made additional sales before harvest.  Land prices remain firm as there are very few farms on the market and plentiful buyers looking for nice investment quality farmland.