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Monday, May 29, 2017

Data as Agriculture’s New Currency.

Data as Agriculture’s New Currency. Government and private economists around the globe keep close tabs on estimates for the yields of internationally-traded crops such as corn, oats, soybean, rice and wheat. The US Department of Agriculture, for example, publishes monthly reports and forecasts that keep the markets up-to-date on the progress of these commodities throughout the season.As with all commodities, prices rise and fall with the global level of supply and demand. That makes accurate and timely information about crop supplies extremely valuable. Agricultural production data measure the supply of various agricultural commodities throughout the various stages of plant growth. Pre-planting estimates use the prior season’s harvest, field observations, and surveys to track what farmers intend to plant. more