Barchart’s machine learning forecast models are predicting record corn yield, 189 bushels/acre, and record soybean yield, 54 bushels/acre. Ample rainfall, good soil moisture, and above average Normalized Difference Vegetation Index (NDVI) indicate above trend yield. It is still early and there is a lot of important weather ahead that can change the forecast, making it important to follow the daily model updates.
Corn and soybean futures prices have been under pressure for over a month, pushed lower by the positive outlook on US crop conditions. Futures prices are driven by expectations of national yield, making it important to have an objective, comprehensive model-based approach that takes both satellite and ground-based weather and geospatial inputs.
