Spring Floods, Droughts, & USDA Shutdown Creates Unprecedented Uncertainty in U.S. Corn Market; Genscape Invokes NASA Big Data Initiative to Forecast 13.3 Billion Bushels

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Genscape publicly releases detailed October corn yield forecast to help fill the data gap stemming from the government shutdown

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“Given the unusual circumstances around this year’s growing season, we feel our NASA satellite and big data initiatives are even more important,” says Dr. Steffen Mueller, director of spatial grain analytics at Genscape.

While industry analysts point to a strong crop yield, the predictions show an unusually wide gap ranging from 13.2 to 14.2 billion bushels of corn produced during the 2013 growing season – with the United States Department of Agriculture (USDA) forecasting 13.8 billion bushels.

A unique combination of spring floods and flash droughts, coupled with an unusually and long growing season, have conspired to make this year’s annual corn forecast the most difficult on record. However, Genscape simplifies the complexity with an online October forecast: http://info.genscape.com/oct-landviewer-corn-forecast

“Given the unusual circumstances around this year’s growing season, we feel our NASA satellite and big data initiatives are even more important,” says Dr. Steffen Mueller, director of spatial grain analytics at Genscape. “We are back to our original prediction of 13.3 billion bushels, and we have the hard data to back it up.”

The lack of USDA data further delays many modeling efforts. Genscape’s LandViewer model offers next generation data acquisition techniques, integrates NASA satellite imagery, and the industry’s most unified ground-based crop yield verification – called “ground truthing – with extensive analysis by experienced soil/agricultural scientists.

Normally at this time of year, the USDA incorporates Farm Service Agency (FSA) lost acreage data, however this year that analysis is not available to market participants due to the government shutdown. Because Genscape is able to incorporate NASA satellite imagery with best-in-the-industry ground truthing data, the latest Genscape forecast is the only known model to account for this market intelligence.

Additional information about the Genscape LandViewer model is available by visiting: http://info.genscape.com/landviewer-oct

About Genscape

Genscape is the leading global provider of energy information for commodity and financial markets. Utilizing patented technologies and proprietary algorithms, Genscape provides accurate & timely data on capacities, flow and utilization for all major energy commodities. With thousands of sophisticated energy monitors strategically deployed all over the world, Genscape is unique in its ability to measure and collect energy market fundamentals. These “measured actuals” are then transmitted to clients in real-time or near real-time. Genscape clients often gain first-mover advantage and increased market transparency to better optimize their positions. For more information, please visit: http://www.genscape.com

For all press inquiries please contact:

Molly Hislop
Marketing Specialist
Office: +1 617 790 0903
mhislop(at)genscape.com

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