CHARLES CITY - During harvest, time is money.

Farmers will be working overtime this week to combine soybeans before they get too dry. Grain experts said soybeans are coming out at 10 percent moisture, right about the level farmers could lose money.

Monday's weekly U.S. Department of Agriculture Crops and Weather Report said nearly half of the state's soybean crop has been harvested.

Iowa State University Extension crop specialist George Cummins, based in Charles City, believes about two-thirds of the soybeans in Northeast Iowa are either in bins or on the way to market. Farmers will be working hard to finish the job, he said.

A bushel of soybeans with optimum moisture weighs 60 pounds, Cummins said. Farmers are getting paid for both dry matter and water. If they sell soybeans that are too dry, it takes more beans to equal 60 pounds. Besides that, farmers may not receive premiums.

Cummins said beans lacking adequate moisture could be worth a few cents less than soybeans with good moisture levels.

"When beans are ready to go, you can afford to hire an extra combine and pay for it with just moisture. …Whether it's water or dry matter, it's worth the same," Cummins said. "I checked a field (last) Thursday in Hancock County that was below 10 percent."

Yields continue to match early-harvested soybeans, with most fields producing between 40 to 65 bushels per acre.

The soybean shattering rate is 63 percent none, 26 percent light, 10 percent moderate and 1 percent heavy. Ninety-two percent of the crop is rated in fair, good or excellent condition.

Only 8 percent of the state's corn is harvested as of Sunday, nine days behind the five-year average. Cummins said last weekends killing frost throughout much of the state ended the growing season. Most farmers are waiting for corn to dry naturally in the fields.

"My brother harvested a little last week and stopped. It was 200-plus bushel corn at 40 percent (moisture)," said Dan Meyer, ISU ag engineer based in Fayette.

The report said average field corn moisture is 27 percent, while harvested corn is 22 percent. Elevators want to buy corn at 13.5 percent.

A wet, cool summer slowed crop development, delaying maturity. Higher moisture corn at this time, compared to past years, is the result. An estimated 8 percent of Iowa's corn crop was replanted, which will be wetter than most.

ISU warns farmers to monitor moisture levels of corn going into on-farm storage. Corn with different maturity levels will also vary in moisture content.

Some corn may dry down quickly, making the farmer think it's ready for long-term storage. However, there could be pockets of wet corn that could spoil, which could be unsafe for livestock consumption.