QuantCube releases Agricultural Yield Forecasts covering key soft commodities
Press Release
QuantCube expands its offerings to key soft commodities
The Forecasts cover corn, soybean, wheat and rice and accurately estimate crop production at a regional, national and global level
Paris, 6 March, 2024 – Alternative macroeconomic data specialist QuantCube Technology today announced the availability of four QuantCube Agricultural Yield Forecasts, covering corn, soybean, wheat and rice at regional, national and global levels. By delivering real-time insights on the growth of these crops, the indicators provide a daily estimate on total yields at the end of the harvest, with an average accuracy of 92%. Such estimates are available four months in advance of forecasts from the US Department of Agriculture (USDA) and up to eight months in advance of the publication of official data.
Using proprietary modelling techniques informed by agricultural expertise, QuantCube has developed a Vegetation Index that provides an accurate view of the overall wellness of key crop groups throughout their development. This index is part of the QuantCube Agricultural Yield Forecasts, which are unique in estimating crop yields from the moment crop vegetation is observed at the germination stage by satellite, and in providing daily updates through to harvest time. In contrast, official data gathered from farmers is only published once crops have been harvested.
Merging real-time meteorological data with the Vegetation Index, QuantCube Agricultural Yield Forecasts also adjust crop production estimates following climatic events expected to have an adverse effect on crop growth, enabling QuantCube’s customers to gain insights on the potential impact and adjust their trading strategies months in advance of official data. QuantCube Agricultural Yield estimates are available in more than 20 countries, including Russia, which is one of the world’s largest producers and exporters of wheat, for which no yield prediction from the USDA is available.
Along with the Agricultural Yield Forecasts, QuantCube provides sentiment indicators that leverage natural language processing (NLP) to track levels of anxiety around other factors that may affect the availability of soft commodities, such as export bans, strikes and geopolitical events. These insights can then be harnessed by financial institutions and commodity traders specialising in agricultural products, as well as by governments and supra-national authorities focused on food security, to inform their strategies.
QuantCube’s CEO, Thanh-Long Huynh, says, “With increasing anxiety around food security and global supply chains, commodity traders and governments urgently need a solution that delivers more dynamic and accurate insights into the outlook for the agricultural commodities market. With the QuantCube Agricultural Yield Forecasts and sentiment indicators, it is possible for countries to diversify imports and enhance food security, while investors can adjust their soft commodities strategies and get ahead of the market in advance of the publication of infrequent official data.”
About QuantCube Technology
QuantCube Technology uses artificial intelligence and big data analytics to deliver real-time macro-economic insights. The firm operates one of the largest alternative data lakes in the world, processing more than 15 billion data end points. Sources encompass news, social media, satellite data, professional networks and consumer reviews, as well as international trade, shipping, real-estate, hospitality and telecoms data.
QuantCube’s macro nowcast indices, on variables including economic growth, inflation, employment and international trade, correlate highly with official data and significantly beat the consensus. Financial institutions using QuantCube data benefit from real-time insight, often ahead of official numbers, which they can use to inform their investment strategies.
Headquartered in Paris, QuantCube employs a diverse international team of data scientists with expertise in multilingual NLP, deep learning and machine learning techniques. The company’s shareholders include Moody’s and Strategic Development Fund (SDF), the investment arm of UAE’s Tawazun Council. QuantCube’s R&D in computer vision has been partially funded by the European Space Agency (ESA) and French government space agency CNES.
