Soybean harvest one-quarter done, some yields better than expected

(DesMoines Register) – The U.S. Department of Agriculture said Monday that 23 percent of Iowa’s soybean crop was harvested as of Sunday, a week ahead of schedule with signs that the crop may be better than previously forecast during the gloomy drought summer of 2012.

Thirty-four percent of the soybean crop was rated poor to very poor, consisted with ratings in recent weeks. But some farmers report yields better than expected.

“My yields are down 10-20 percent from normal, but still better than I expected,” said farmer Kyle Phillips as he harvested beans Monday on his Marion County farm. Phillips said he normally expected yields in the 50-60 bushel per acre range.

Simarly Dale Roewe said he averaged around 54 bushels per acre, down from normal yields in the upper 50 bushel per acre range on his Pocahontas County farm but still better than feared last summer during what was the worst heat wave in July since 1936.

Iowa averaged 50.5 bushels per acre for soybeans in 2011 but some predictions pegged this year’s drought-stricken crop at less than 40 bushels per acre.

Des Moines commodity broker Tomm Pftizenmaier said “the harvest is progressing rapidly and field reports are that yields are turning out to be better than expected.”

On the Chicago Board of Trade Monday soybeans continued what has been a ten percent retreat since reaching their record high of $17.75 last month. On Monday new corp November contract beans closed down 12 cents per bushel at $15.90, the first time soybeans have been below $16 per bushel since late July.

Corn has been under similar harvest pressure as farmers in Iowa, at least, have reported better than expected yields when they got their combines into the fields after Labor Day.

On Monday corn was down 4 cents per bushel to $7.44 for the December contract.

The USDA said 37 percent of the corn crop has been harvested for grain or seed, over three weeks ahead of normal. Moisture content of all corn in the field is estimated at 21 percent while the moisture content of corn being harvested is estimated at 18 percent.

Corn condition declined slightly and is now rated at 21 percent very poor, 29 percent poor.

Iowa’s dry summer has morphed into the beginning of a dry autumn. For the week ending Sunday the statewide average precipitation was only .17 inches while normal for the week is .77 inches, State Climatologist Harry Hillaker said.

Last week was the 18th week of the past 20 with less than normal precipitation, Hillaker said.