Chicago, Illinois
October 8, 2007
Lanworth, Inc., a pioneer
in the use of satellite imagery for agricultural forecasting,
issued its October production estimates for 2007 US corn and
soybean production. Both crops are predicted to have lower
yields than the USDA reported in September.
Lanworth estimates 2007 US corn
production will be 13.11 billion bushels, 200 million fewer than
the USDA’s September estimate of 13.31 billion bushels. Still,
this record-setting figure is 25% higher than the 10.5 billion
bushels produced in 2006. Differences between the Lanworth and
USDA estimates are concentrated in Illinois, Indiana, Iowa,
Tennessee, and Ohio.
Lanworth expects 2007 soybean
production to be 2.58 billion bushels, 1.4% lower than the 2.62
billion bushels reported by the USDA in its September Crop
Production Report and 19% lower than the 3.19 billion bushels
produced in 2006. The largest differences between Lanworth and
USDA estimates are in Ohio, Illinois, Indiana, Kentucky, and
Tennessee.
Using satellite imagery, soil
and weather data, crop growth models and extensive field checks,
Lanworth has determined that localized drought conditions and
variability in planting dates have limited the yield potential
of the corn and soybean crops.
“We expect the USDA to lower
its production estimates as yield problems become evident in the
harvest,” said Dr. Nick Kouchoukos, Director of Information
Services for Lanworth. “Lower estimates from the USDA could come
as early as this week's October Crop Production Report but are
more likely to appear in the November report.”
Until now, Lanworth's
production estimates have been available only through
subscription to its agricultural risk management web portal,
which delivers detailed weekly acreage, yield, and production
summaries from national down to county levels. For more
information, see
www.lanworth.com/agriculture .
US Corn and Soybean
Production Estimates – October 2007
|
Crop |
Lanworth October Production Estimate
(billion bushels) |
USDA
September
Production Estimate
(billion bushels) |
Deviation from USDA Report |
|
Corn |
13.11 |
13.31 |
-1.5
% |
|
Soybean |
2.58 |
2.62 |
-1.4
% |
Lanworth is an information technology company
specializing in the application of aerial and satellite remote
sensing to natural resource management. Lanworth assists clients
in making informed decisions in the forestry, government,
agriculture, real estate, electricity, gas, and transportation
industries. Lanworth supplies its clients with detailed
geographic and resource information on a global scale. In
addition to expert analysis of satellite imagery, Lanworth
provides unique proprietary data layers, such as land ownership
records, to enrich its research offerings. Lanworth's primary
office is located in Itasca, Illinois, with a satellite office
in Jackson, Mississippi. For more information, visit
www.lanworth.com.
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