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Fewer soybean acres? One firm says yes

Agriculture.com Staff 06/26/2009 @ 3:14pm

Based on satellite imagery and other forms of "intelligence," one firm says U.S. soybean acres will be lower than expected when USDA releases its June Acreage report on Tuesday.

Lanworth, an agricultural intelligence company, estimates lower-than-expected soybean acreage in advance of Tuesday's USDA reports. After two years delivering timely and accurate acreage and production estimates for corn, soybeans and wheat, company officials say Lanworth's satellite-enabled computer models are softening the market impact of the USDA's periodic intentions, plantings and production reports.

This year, Lanworth officials say the company's plantings estimate -- one that suggests that the world soybean supply will remain very tight -- runs counter to many analysts' expectations of the the biggest soybean crop in history.

"The world is running short on soybeans," says Nick Kouchoukos, vice president of information services at Lanworth, in a company report. "As an independent and proven source for supply intelligence, our clients can account for supply constraints as they are determined, rather than waiting for the USDA's estimates or trusting less scientific methodologies."

Lanworth also assessed corn and spring wheat acreage. It estimated an increase in corn plantings consistent with its March report. Spring wheat plantings are down from last year, but up slightly from the intended plantings in all states.

Officials say the firm uses three elements to arrive at its projections: Real-time satellite feeds delivered twice daily, extensive field sampling and sophisticated computer models of soil conditions, farming practices, weather and many other factors.

Based on satellite imagery and other forms of "intelligence," one firm says U.S. soybean acres will be lower than expected when USDA releases its June Acreage report on Tuesday.

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