Iowa Farmers Concerned About Drought, But Harvest Progress Remains Ahead of Five-Year Average Iowa's drought, now in its 20th month, is causing farmers to begin harvesting their crops about a week early. The USDA projects that Iowa farmers will harvest 2.52 billion bushels of corn and 572.5 million bushels of soybeans, both down 2% from last year. However, Iowa is expected to remain the nation's largest corn grower and second-largest soybean producer after Illinois.
Farmers will need better-than-expected harvests to compensate for other factors, such as higher production costs and lower crop and livestock prices. Iowa farm income is expected to drop 23% this year, but it will still be quite strong.
The recent rain is a step in the right direction, but it will not be enough to break the drought. Multiple rain events throughout the fall are needed to help replenish the soil and Iowa's rivers, streams, and groundwater.
Meanwhile, harvest progress for both corn and soybeans maintained a slight lead over the five-year averages nationwide. Corn harvest picked up speed last week, with 53% of the crop rated good to excellent. Soybean harvest is also ahead of schedule, with 12% of the crop harvested as of Sunday.
Traders are digesting yield reports from harvested fields, with farmers expected to bring in the second largest corn crop on record. Soybean and wheat exports are also higher than reported last week.
Iowa farmers are facing some challenges due to the drought, but harvest progress remains ahead of average and overall farm income is expected to remain strong.
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Categories: Iowa, Weather