This years harvest started out fast and furious but has slowed to a crawl with excess moisture, snow, and below normal temperatures. Operators have had to jump from field to field and harvest wherever field conditions are suitable. Corn harvest is nearing completion and should be wrapped up within the next week. Soybean harvest is also nearing completion but many operators are at a stand still because the soybeans have picked up too much moisture and still need to dry back down.
With colder conditions and snow in the forecast for this weekend operators are rushing to get as much harvested as possible before the weather moves in. In general corn yields have been slightly above average to well above average with yields ranging from 170-235 bushels per acre depending on location. Soybean yields have been variable with the highest yielding soybeans being harvested before all the excess precipitation. Soybean yields have ranged from 45-75 bushels per acre depending on the timing of harvest and field location. For farms located within the Missouri River floodplain the extremely high river levels have made harvest miserable and nearly impossible in some places. Many fields will will not be harvested and some will have to wait until the ground freezes or river levels go back down.
We are preparing to negotiate cash rent leases for 2019 and hope to have most leases in place before the end of the year. We expect rental rates to be steady to down slightly depending on location and rotation of crops.