Planting Season Update
Iowa farmers are nearly done planting corn. According to the state’s crop progress report from the National Agricultural Statistics Service, there were only about 2.5 days good for fieldwork with lots of rain across the state. That has helped out dry conditions in the state with topsoil at 71% adequate moisture and subsoil at 54%.
According to State Climatologist Justin Glisan, over the last ten days there was plenty of rain – however, there’s still a ways to go before dry soil disappears. “So we would like to see, climatologically what we would expect in May, June, July and then above average totals to really start to chip away at those precipitation deficits the behavior we’ve seen over the last seven to ten days has been great those colder temperatures even when we were drier than average, helped mitigate some of that atmospheric demand, which held drought conditions effectively status quo,” Glisan says. Glisan adds Iowa needs consistent rainfalls, and right now the short term outlook shows a good chance of that for the next couple of weeks.
Corn planting is about done at 97%, two weeks ahead of the five-year average – with corn emergence at 75%, five days ahead of normal. The first corn condition rating of the season shows conditions are 78% good or excellent. Soybeans are 89% planted., fifteen days ahead of normal with emergence at 53%. That’s nine days ahead of the five-year average.
Iowa hay is 59% good or excellent. Pasture conditions are 49% good to excellent.
A look at the markets
Grain is still in the red. Analyst Don Roose has more:
“The grain market continues to take risk premium out of the market as the weather continues to improve non threatening for the next ten days so you’re seeing that mentality of a risk off trade continue to build momentum going into the three day weekend the weather patterns can change over those time frames, but for right now that’s not the concern, it’s more of a get back to home base by the fund selling here also China, no specifics but they are strengthening price controls on key commodities, corn and wheat is the rumor. The cattle market is trying to stabilize we still are dealing with big numbers of cattle here, short term. But by the end of the summer those numbers should tighten up. The boxed beef just continues to push to the upside, domestic demand is strong, the export market is strong all adds up to some buying at the retail level. The hog market is sitting at some higher levels, some loftier levels right now. Just the opposite of China. China’s hog prices just continue to make new lows, which is a risk to our market. They’re down 32 percent versus last year. The lowest levels since 2019 as ours are making new highs.”