Tuesday, March 19, 2019

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

BWW News Desk
January 11, 2019

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 20182019 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 realtime Indigo stakeholders including growers leverage this data for various objectives throughout the season p p 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 decisionmaking p p 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 USDAs in recent years For example in the 2017 season the GeoInnovation unit formerly known as TellusLabs correctly forecasted recordbreaking corn yields in the United States in midseason compared to much lower numbers from the USDA that the department eventually revised upwards to meet the companys initial estimates late in the winter p p no quote Informed market perspectives are fundamental to a growers profitability said David Perry Indigos CEO no quote 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 p p Indigos forecasts for soybean and corn production in Brazil have decreased by 63 and 51 or 73 MMT and 49MMT respectively since the date of the December USDA reportsup1sup Indigo attributes this downward trend to unevenly distributed dry conditions in the country resulting from belowaverage rainfall In some states soybeans were planted soon after their permitted planting dates and the dry weather disrupted the plants during the crucial podfilling phase Indigos Crop Health Index Image 2 for soybeans in Brazil was higher than normal in November and early December but it is now below tenyear norms for this stage in the season p p Indigos 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 11 or 05 MMT Indigo attributes the slight upward trend in corn to a wetter season in the country Of note Indigos models suggest popular sources are overstating the negative impact of some flooding and hail in the area Indigos Crop Health Index Image 4 for soybeans in Argentina is slightly behind its normal progress over the past decade but by a negligible amount p p For soybean and corn yields in the United States Indigo anticipates final yields below the December 11 2018 USDA estimates of 521 buac for soybeans and 1789 buac for corn Indigos models have been below both the USDA and market consensus all year and the company predicts that the USDAs yearend report will again make downward revisions when they ultimately close out the season after the government shutdown Lateseason flooding led to harvest issues negatively impacting an otherwise robust crop p p no quote The absence of the January 11th government yield estimates makes datadriven private forecasts more compelling than ever said Benjamin Riensche an Iowabased grower and advisory board member of Indigo Research Partners no quote Even better this data is virtually realtime 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 Indigos 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 p p David Potere Head of GeoInnovation at Indigo said no quote 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 worlds food supply we are able to syndicate information from that platform at a moments 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 p p no quote Agriculture is perhaps the worlds most important manufacturing process and databased insights like this are critical for growers said Geoffrey von Maltzahn Indigos CoFounder and Chief Innovation Officer no quote Indigo is building the leading agricultural data platform to help clarify decisions at planting harvest and sale of grain and fiber p p To learn more about Indigos GeoInnovation platform click a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwindigoagcom2Fgeospatialinnovationampesheet51924475ampnewsitemid20190111005082amplanenUSampanchorhereampindex1ampmd5cb4ac8a3946cb7c1405c7aee8e66fc8c relnofollowherea p p bAbout Indigob p p 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 So Paulo Brazil For more information on Indigo Agriculture please visit a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Fwwwindigoagcomampesheet51924475ampnewsitemid20190111005082amplanenUSampanchorwwwindigoagcomampindex2ampmd5ece488117a91b11692bd1e7d50495357 relnofollowbwwwindigoagcombab band follow the company on a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Ftwittercom2FIndigoagampesheet51924475ampnewsitemid20190111005082amplanenUSampanchorTwitterampindex3ampmd5baa8e120d95e97af2346966b15a665d8 relnofollowTwittera a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwfacebookcom2FIndigoAgriculture2Fampesheet51924475ampnewsitemid20190111005082amplanenUSampanchorFacebookampindex4ampmd55ccef611bae4f0ad5c2d3a3fba437c1d relnofollowFacebooka and a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwlinkedincom2Fcompany2Findigoag2Fampesheet51924475ampnewsitemid20190111005082amplanenUSampanchorLinkedInampindex5ampmd578530d5271a18eebecb5ac4f62e4d033 relnofollowLinkedIna p p bDisclaimerb p p 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 p p sup1sup Production forecasts for both Brazil and Argentina assume the last area harvested estimate from the USDA p

SOURCE: BUSINESS WIRE. ©2015 Business Wire

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