Genscape Issues Cautionary Alert to Corn Buyers

Genscape has recreated the United States Department of Agriculture’s (USDA) corn yield projections for the 2013 season and is issuing a cautionary alert to corn buyers, traders and other market participants. GenscapeAugust 2013 Yield Forecast Accuracy tapped into its LandViewer model that 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 to provide a framework for its corn yield projections.

As of July 11th, the USDA projects average U.S. corn yields of 156.5 bushes per acre (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.

“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,” said 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.

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