Genscape Projection Finds USDA Crop Production Estimates Troubling
Date Posted: July 19, 2013
Louisville, KY—Genscape, the market leader in deploying patented and proprietary technologies specifically designed to capture fundamental data and increase transparency in otherwise opaque commodity markets, announces July 18 the results of recreating the USDA’s corn yield projections for the 2013 season and is issuing a cautionary alert to corn buyers, traders and other market participants.
Genscape’s sophisticated new LandViewer model uses a methodological tripod of high resolution satellite imagery, extensive on-the-ground surveillance, and proprietary algorithms to pinpoint corn yields at the farmland parcel, county, state, and national levels.
As of July 11th, the USDA projects average US corn yields of 156.5 bpa and 14 billion bushels of corn supply for the 2013 season (http://www.usda.gov/oce/commodity/wasde/latest.pdf).
However, Genscape’s LandViewer model indicates that if USDA national predictions are to be achieved, it would have to correlate to significantly higher average yield production rates in key corn producing states, such as Iowa, Minnesota, Ohio, and Indiana.
“We feel that the USDA’s crop forecast would require far more production from key corn producing states than what our historical 5-year tracking data show,” says Dr. Steffen Mueller, senior director of Genscape’s LandViewer group.
“We are issuing a detailed cautionary alert to our clients at this time – and continuing our independent ground verification.”
Genscape’s updated 2013 county-by-county corn yield forecast will be announced on August, 6, 2013. County-level state data will be available to clients via report, and Dr. Mueller will lead in-depth explanations and custom consultations.
To learn more, please visit: http://www.Genscape.com/LandViewer
Order the 2013 county-level corn yield forecast before August 2nd to get pro-rated mid-season pricing – a significant savings from the full-year cost.
“Dollar for dollar, these data are well worth the investment,” adds Dr. Mueller.
“We are experiencing strong demand for the full-year package and this one-time offer is ideal for new corn buyers and traders to significantly increase their visibility into county, state, and national markets.”