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Local 5 - weareiowa.com | Des Moines Local News & Weather | Des Moines, Iowa

Soybean harvest nearly done and crop prices on the rebound, latest crop report says

Probability for Iowa farmers will depend on what they spend on input costs.

Iowa farmers once again made the most of last week's weather, staying well ahead of what is considered a typical harvest. 

The dry weather wouldn't last forever, so as some farmers take a brief pause from the snow, there is great progress to celebrate. 

Let's start with the beans, which are pretty much wrapped up: 90% harvested statewide, the southern third of the state is about all that's left. That's still three weeks ahead of last year and two weeks ahead of the rolling average

Corn is also keeping pace with progress, the most seen in the third week of October in eight years with 65% complete.

Prices are finally starting to see decent returns per bushel. A rally in soybeans thanks to demand at $10.63 per bushel Monday, roughly $0.50 over what is considered break-even for beans.

Corn is also surging since August lows: $4.05 per bushel on Monday with a break-even price at roughly $3.80. 

As always, profitability depends on what each farmer spends on input costs as they vary.

Looking to next year, if demand stays strong, Iowa could see more farmers consider putting soybeans back into the rotation. Or at least getting back into an annual crop rotation, which could help with soil nutrient reduction.

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