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The United States Department of Agriculture (USDA) has a number of agencies that areinvolved in collecting, analyzing, forecasting, and disseminating information about theproduction and consumption of the corn and soybean crops (Spilka, 1983; Vogel andBange, 1999; Lusk, 2013). Market participants rely heavily on estimates and forecastsprovided by these agencies in order to form price expectations and to make businessdecisions. In spite of on-going efforts to maintain the quality of information provided andthe transparency of the methodology used, misunderstanding, concerns, or complaintsabout the information provided periodically arise (e.g., USDA/ESRP, 1985; Good andIrwin, 2011). More recently (since 2006) those concerns have centered on the accuracyof the quarterly estimates of corn inventories and to a lesser extent on the methodologyand accuracy of early season yield forecasts (e.g., Polansek, 2010; Pleven andMcGinty, 2011). It is in that context that this review of USDA forecasts and estimatesfor corn and soybeans was conducted.

Subject(s): Agribusiness

Agricultural and Food Policy

Agricultural Finance

Consumer/Household Economics

Crop Production/Industries

Demand and Price Analysis

Farm Management

Issue Date: 2014-01

Publication Type: Report

PURL Identifier: http://purl.umn.edu/183477

Total Pages: 145

Record appears in: University of Illinois at Urbana-Champaign > Department of Agricultural and Consumer Economics > Marketing and Outlook Research Reports

Autor: Irwin, Scott H. ; Sanders, Dwight R. ; Good, Darrel L.

Fuente: http://ageconsearch.umn.edu/record/183477?ln=en

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