How? Because Progressive WeatherYield forecasts state and national corn yields 15 days in advance.
Based on the below Progressive WeatherYield forecast, supply increased over the past two weeks, with corn prices dropping accordingly. While the August 12 USDA WASDE report surprised some, with corn production predicted at an increase of 3.5m bushels from July’s 166m WASDE number, clients of Progressive WeatherYield would have seen conditions that resulted in a price decline.
Ending stocks facilitated the drop in corn prices.
With overall corn production estimated by the USDA at 13.9b production, and exports and ethanol down, ending stocks for corn came in at 2.18b bushel carryout, further facilitating the corn prices drop.
Know corn prices, sooner and better.
By predicting changes in supply, Progressive WeatherYield helps traders know sooner and better. Market choices can be made ahead of the pack, with fewer surprises and more predictable outcomes. As shown below, Progressive WeatherYield leveraged over 4T yield and weather data elements to forecast corn supply and anticipate the August 12 WASDE report results.
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