Gro Intelligence and DTN are partnering for their sixth annual Digital Yield Tour – a state-by-state analysis of corn and soybean production in key US growing regions. From Monday, August 7, to Friday, August 11, DTN will provide detailed, on-the-ground reporting and Gro will leverage our powerful machine-learning predictive modeling to show how US corn and soy yields are faring this year and what we can expect from the 2023 season.
See daily tour updates on DTN’s website here, and register for a webinar on the tour next Tuesday, August 15, at 8:30 AM CDT (Session 3: Digital Yield Tour 2023) to hear Gro Intelligence’s research analysts discuss the US corn and soybean season thus far.
Gro’s US Yield Forecast Models Are a Powerful Predictor of Global Markets
Because the US is the largest producer and consumer of corn and the second-largest producer and exporter of soybeans, fluctuations in yield for these crops have global price ramifications. Following estimates of US production throughout the season is critical for decision-makers across the agricultural supply chain.
Gro’s US Corn & Soybean Models provide highly accurate, daily estimates of end-of-season yields to help users get ahead of major market movements. Past years’ performance show that the models’ forecasts are within 98% of the USDA’s final January reporting up to four months in advance. (Check out more in our 2022 Performance Report.)
Our US models estimate in-season yields at the county, state, and national levels. These models use weather, vegetation health, soil data, and other inputs to monitor environmental and crop conditions during the growing season and continuously forecast final yield.
Gro’s customers use these models to:
What Are We Seeing So Far This Season?
According to Gro’s machine-learning model’s latest predictions, higher forecasted yields and an increase in planted acreage could drive US corn production to a double-digit gain from last year.
That’s a sharp reversal from the crop’s outlook early in the season, when June’s poor rainfall — the lowest for the Corn Belt in more than a decade — presaged a weak harvest. Precipitation rebounded in July, however, and total rainfall for that month was above the 10-year average.
Gro’s US Soybean Yield Forecast Model also currently indicates yields will be above last year. August and September weather has the greatest bearing on US soybean yields. Extended weather forecasts as the calendar flips to August are favorable for soybean pod set and pod fill.
However, good-to-excellent crop ratings are still well below average for US corn and soybeans. Daily updates from Gro’s Yield Forecast Models offer insights into these dynamic conditions as the season continues.