Cropforecasts.com's U.S Corn production forecast as of 08-23-2014 is 14.37 Billion bushels
We create daily forecasts of the U.S corn production. It answers the basic question of "How will the weather impact my corn". The forecast products here work towards the goal of answering that question.
The corn forecast is created every day during the growing season from early May through September.
Charts are created to show how the production forecasts change and trend over time. Individual states are also shown so one may be able to see how the forecast is impacting their local region.
How is this useful.
Having a forecast of the corn production that is timely, objective and includes current weather is a very useful tool to anyone
who may be a producer, consumer or hedger of this commodity. People have to make decisions on how to market, sell or buy grain and often these decisions
are based on where they think the market is going. Weather has a major impact in the growing of grain commodities. We integrate that weather information using numerical corn models to create precise estimates.
This product creates a forecast every day. Many trends in the market are short term in nature that are much shorter than a monthly timescale. Short term fluctuations in the weather impacts the markets.
Its objective. Local conditions can greatly impact a persons opinion especially if they are in a drought or flood where other parts of the cornbelt might be closer to normal. The corn models are objective and only use weather information such as rainfall, temperatures and solar radiation. Since weather can greatly vary from region to region, its impact can be measured and correctly accounted for so it doesnt distort the estimate of the total production.