Indigo Ag, Inc. Shares January Corn and Soybean Yield Forecasts for the Americas to Help Global Grower Community Navigate Market During US Government Shutdown

Marketing News – MarketingTools365 – Mktg News – Marketing Tools 365 – //// Business Marketing news and Mktg News : Indigo Ag, Inc. Shares January Corn and Soybean Yield Forecasts for the Americas to Help Global Grower Community Navigate Market During US Government Shutdown :

  • Indigo has the capability to forecast crop yield and production around
    the globe with recently acquired satellite imaging and machine
    learning platform whose yield prediction capabilities have
    outperformed the USDA’s in recent years
  • With the US government shutdown delaying the release of critical
    market data, Indigo utilizes newly acquired platform to share
    directional changes to soybean and corn yield and production forecasts
    for the Americas, representing 82% and 48% of the world’s supply in
    these two crops, respectively
  • Access to market data is not only critical for grower decision-making
    and planning, but for buyers, food companies, and the global financial
    markets, especially in the absence of the January 11th USDA WASDE
    report

BOSTON–(BUSINESS WIRE)–Indigo Ag, Inc., a company dedicated to harnessing nature to help
farmers sustainably feed the planet, publicizes recent directional
changes to soybean and corn yield and production forecasts for the
2018/2019 season across the Americas. With the application of machine
learning and artificial intelligence to satellite imagery, Indigo
garners global yield performance and production data of crops in
real-time. Indigo stakeholders, including growers, leverage this data
for various objectives throughout the season.


Due to the United States government shutdown, most operations within the
United States Department of Agriculture (USDA) have been put on hold,
and key market reports have been delayed indefinitely. The executive
department is responsible for publishing the monthly World Agriculture
Supply and Demand Estimates (WASDE) report, a comprehensive forecast of
crop and livestock supply and demand. Insights from this report are
fundamental to informing the global agricultural market, which guides
growers’ decision-making.

In the absence of this information, Indigo is sharing agricultural
market data for the Americas gathered by its GeoInnovation unit, whose
capabilities in predicting yield have outperformed the USDA’s in recent
years. For example, in the 2017 season, the GeoInnovation unit, formerly
known as TellusLabs, correctly forecasted record-breaking corn yields in
the United States in mid-season, compared to much lower numbers from the
USDA that the department eventually revised upwards to meet the
company’s initial estimates late in the winter.

Informed market perspectives are fundamental to a grower’s
profitability,” said David Perry, Indigo’s CEO. “With access to the
right data, a grower decides which inputs to buy, crops to plant, dates
to sell, and more – decisions that will affect the rest of his or her
season. As a company that wants to support growers’ independence, Indigo
is providing this access to streamlined insights, especially since they
are otherwise unavailable.”

Indigo’s forecasts for soybean and corn production in Brazil have
decreased by 6.3% and 5.1%, or 7.3 MMT and 4.9MMT, respectively, since
the date of the December USDA report.1 Indigo attributes this
downward trend to unevenly distributed dry conditions in the country,
resulting from below-average rainfall. In some states, soybeans were
planted soon after their permitted planting dates and the dry weather
disrupted the plants during the crucial pod-filling phase. Indigo’s Crop
Health Index (Image 2) for soybeans in Brazil was higher than normal in
November and early December, but it is now below ten-year norms for this
stage in the season.

Indigo’s forecast for soybean production in Argentina has not
significantly changed since the date of the December USDA report, while
its forecast for corn production in the country has increased 1.1%, or
0.5 MMT. Indigo attributes the slight upward trend in corn to a wetter
season in the country. Of note, Indigo’s models suggest popular sources
are overstating the negative impact of some flooding and hail in the
area. Indigo’s Crop Health Index (Image 4) for soybeans in Argentina is
slightly behind its normal progress over the past decade, but by a
negligible amount.

For soybean and corn yields in the United States, Indigo anticipates
final yields below the December 11, 2018 USDA estimates of 52.1 bu/ac
for soybeans and 178.9 bu/ac for corn. Indigo’s models have been below
both the USDA and market consensus all year, and the company predicts
that the USDA’s year-end report will again make downward revisions when
they ultimately close out the season after the government shutdown.
Late-season flooding led to harvest issues negatively impacting an
otherwise robust crop.

The absence of the January 11th government yield estimates makes
data-driven private forecasts more compelling than ever,” said Benjamin
Riensche, an Iowa-based grower and advisory board member of Indigo
Research Partners. “Even better, this data is virtually real-time,
rather than the weeks old data in government reports. It can accurately
reflect a quickly evolving situation in Brazil, which appears to be
experiencing a shrinking crop in recent dry weather. Here in the US,
Indigo’s analytics seem more likely to pick up on soybean yield and
quality reductions from wet harvest conditions in North Central and
Northeast Iowa, as well as refute the old conventional logic that ‘rain
makes grain’ for this prime production area.”

David Potere, Head of GeoInnovation at Indigo, said, “The data we are
sharing with growers today represents a small slice of the massive set
we generate daily. With our living map of the world’s food supply, we
are able to syndicate information from that platform at a moment’s
notice, restoring data in the absence of key reports and insights from
the USDA. Democratizing data at critical junctures, such as the
government shutdown, is just one facet of what our technology can
accomplish.”

Agriculture is perhaps the world’s most important manufacturing process
and data-based insights like this are critical for growers,” said
Geoffrey von Maltzahn, Indigo’s Co-Founder and Chief Innovation Officer.
Indigo is building the leading agricultural data platform to help
clarify decisions at planting, harvest, and sale of grain and fiber.”

To learn more about Indigo’s GeoInnovation platform, click here.

About Indigo

Indigo improves grower profitability, environmental sustainability, and
consumer health through the use of natural microbiology and digital
technologies. Utilizing beneficial plant microbes and agronomic
insights, Indigo works with growers to sustainably produce high quality
harvests. The company then connects growers and buyers directly to bring
these harvests to market. Working across the supply chain, Indigo is
furthering its mission of harnessing nature to help farmers sustainably
feed the planet. The company is headquartered in Boston, MA, with
additional offices in Memphis, TN; Research Triangle Park, NC; Sydney,
Australia; Buenos Aires, Argentina; and São Paulo, Brazil. For more
information on Indigo Agriculture, please visit www.indigoag.com
and follow the company on Twitter,
Facebook,
and LinkedIn.

Disclaimer

No representation or warranty of any kind (whether expressed or implied)
is given by Indigo as to the accuracy, completeness, currency or fitness
for any purpose of the above forecasts. As such, this document does not
constitute the giving of investment advice, nor a part of any advice on
investment decisions. Indigo accepts no liability of any kind and
disclaims all responsibility for the consequences of any person acting
or refraining from acting in reliance on this press release and any
forecasts in whole or in part.

1 Production forecasts for both Brazil and Argentina assume
the last area harvested estimate from the USDA.

Contacts

Indigo
Allie Evarts
aevarts@indigoag.com

Hatch for Indigo
Judy Huang
indigo@thehatchagency.com

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