Genscape estimates 96.2 million acres of corn are in production

By Genscape | July 11, 2013

The 2013 corn year has been very challenging for local grain buyers and traders. Severe weather events including snow, flooding, and heavy rains across the Midwest have resulted in fragmented planting dates and last minute re-planting decisions by growers. As a result, traditional grower surveys conducted by groups trying to assess corn supply may not have captured late adjustments in planting trends this year. Genscape LandViewer is using satellite technology to fill the information gap and offer grain traders and buyers advance notice data.

“In a difficult corn year like this one, the spatially explicit corn acreage and yield predictions on a county and sub-county level enables local grain buyers to scout for corn availability outside of their normal corn draw area,” said Steffen Mueller, senior director at Genscape. “Conversely, local grain buyers in high yielding areas can assess the pressure and pull from outside buyers imposed on their corn supply.”

Using satellite technology, Genscape LandViewer has developed a spatial-based algorithm to predict corn planted on a parcel by parcel basis. In a conference call with local grain buyers and grain traders last week, LandViewer released its predictions for corn acres in 2013 production ahead of market movements anticipated by the June 28 USDA acreage report. This advance notice data is used by grain traders and investors to inform their positions; it is used by grain buyers to know where to source grain and how to set the best prices. LandViewer estimates 96.2 million acres are currently in corn production. While this is about 1.2 million less than the 97.4 million acres predicted by USDA in its June 28 report, the number is reflective of acres lost to flooding and other weather events.

As the 2013 season progresses, LandViewer will continue to update the corn acres in production as well as its predicted harvested acres and yield numbers on a regular basis in its series of conference calls. LandViewer will also share its county and sub-county analyses with its clients to provide local market intelligence.