Lanworth 2009 Crop Projections Supported by USDA Report

CHICAGO, July 1 /PRNewswire/ -- The projection made by agricultural intelligence company Lanworth (Lanworth.com), that last year's U.S. corn and soybean crop production was lower than reported by U.S. Department of Agriculture (USDA), was supported yesterday by the agency's quarterly Grain Stocks report.

The USDA lowered corn stocks well below analyst expectations to 4.31 billion bushels, indicating faster than expected disappearance of the 2009 crop. Because corn use to date is comparatively well known, such a high rate of disappearance points to a production shortfall.

"We've consistently asserted that USDA overstated 2009 corn and soybean production," said Dr. Nick Kouchoukos, Lanworth's Vice President, Products. "Its survey methodology did not capture the fundamental limits the very unusual 2009 weather placed on yield."

Lanworth's use of biophysical crop models, satellite imagery, and field observations provides a robust platform for early and accurate intelligence on crop area, yield, and production. The company began to inform its clients in July 2009 that the corn and soybean crops would be late maturing with yields comparable to the previous year's. Meanwhile, USDA raised its own yield projections to record highs.

"Lanworth's post-harvest surveys of grain elevators and livestock feeding operations supported our more conservative position on yield," assessed Dr. Kouchoukos, "as did grain quality data provided by USDA's Grain Inspection, Packers and Stockyards Administration (GIPSA). Yesterday's low stocks estimates add yet more evidence that yields were not there."

Now in its fourth year delivering leading agricultural intelligence, Lanworth provides long term, science-based crop production forecasts that soften the impact of interim estimates.

ABOUT LANWORTH

Lanworth (http://Lanworth.com) is the premier provider of accurate, independent, and timely production intelligence to the finance, consumer food product, and agri-business industries. Operating out of offices in Itasca, Illinois, the integrated team at Lanworth is advancing RAY, its flagship agricultural intelligence service, to cover a wider variety of crops and regions with ever-greater accuracy. Providing up-to-the-minute analysis in easy-to-apply formats is the basis of Lanworth's value. Lanworth provides both subscription reports and custom studies to the agro-forestry sectors.

SOURCE Lanworth