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 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. 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.
Genscape’s updated 2013 county-by-county corn yield forecast will be announced on August, 6, 2013.
Part of producing efficiently is also being prepared for the unknowns. As farmers 2012 began – there were hopes of high yields and a bountiful harvest. As the drought set in – the crops started to deteriorate and it became more obvious this would be a year where we would need to expect the unexpected. As we enter a New Year – we again have hopes for a good growing season and high yields.
In this Precision Pays Podcast, sponsored by Ag Leader Technology, Purdue University ag economist Chris Hurt talks about his thoughts on the markets and what growers can expect as we enter in to 2013.
Precision Pays Podcast
You can subscribe to the Precision Pays Podcast here.
The Precision Pays Podcast is sponsored by Ag Leader Technology.
Farmers around Illinois who are interested in receiving a “check-up” on their risk management plans are invited to attend one of three upcoming meetings, sponsored by AgriVisor and COUNTRY Financial.
The meetings will be held on January 31 at the Holiday Inn in Mt. Vernon, Ill.; February 1 at the Northfield Suites in Springfield, Ill.; and February 2 at University Plaza in DeKalb, Ill. All meetings begin at 5:00 pm and include a ribeye dinner. Cost is $19 per person. A drawing for an iPad will also be held at each location.
“The meetings will be a ‘one-stop shop’ where farmers can learn about many key factors that may affect their risk management plans in 2012,” said Clayton Pope, manager, AgriVisor, LLC. “Today’s markets are so volatile; our goal with these meetings is to provide farmers with specific tools to help them reduce their risk to enhance the prospects for a successful growing season.”
Each will include a weather outlook from Mike Tannura, owner of T-storm Weather; an economic outlook by Kurt Bock, COUNTRY Financial chief executive officer; and grain market insights from Dale Durchholz, AgriVisor senior commodities market analyst. The Mt. Vernon meeting will have political insights from U.S. Representative John Shimkus’s office; Springfield’s political insight will come from U.S. Representative Tim Johnson’s office; and U.S. Representative Randy Hultgren’s office will speak at the DeKalb meeting.
Pope also stressed farmers have a key component to manage risk on their operation: crop insurance. “The federal crop insurance deadline this year is March 15 ,” he said. “Now is the time to make critical decisions. There are tremendous risk management opportunities available from the use of crop insurance products. AgriVisor wants to teach farmers how to effectively take advantage of those opportunities.”
Registration closes January 23. Call your local COUNTRY financial representative, county Farm Bureau office, or visit www.agrivisor.com for more information and to register.