Thu Jan 16, 2020
Soybean Yield Forecast from cmdty Predicts USDA Final Number
cmdty’s Yield Forecast Indexes are used by Ag Lenders, Commodity Traders, and Grain Marketers to make better lending, pricing, and hedging decisions everyday. Those users were rewarded with spot on information that matched the USDA’s final soybean yield number with amazing accuracy - over three months in advance!
Our final number of 47.33 - generated only with geospatial information and sophisticated machine learning technology - compared to the USDA’s final soybean yield figure of 47.4 bushels per acre. On October 11th we published an estimate 47.43, which we revised down to 47.33 in our final estimate of the year on November 3rd.
In the incredibly volatile 2019 growing season, our users were rewarded with reliable data to enhance their decisions throughout the year. Available at the county, CRD, State, and National level, cmdty produces over 3,000 daily yield estimates throughout the United States and makes these available to our subscribers over API, our add-in for market data in excel, or in cmdtyView Pro.
We’ll be releasing a free bi-weekly report in 2020 that will cover our national estimates along with information from the states that matter most to agribusinesses and the people that work in the agriculture industry.
Be on the lookout for more information in 2020 on how users can combine our unique data sets to make better grain marketing decisions. For those who need more information now, please check out our free whitepaper on using basis to market grain more effectively.