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 Development of an NARA SPACE&apos;s Crop Yield Prediction Model
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In order to effectively predict crop yields across extensive regions, NARA SPACE utilizes satellite imagery data. This data includes long-term information obtained during the crop growth period, as well as growth monitoring, weather, and disaster analysis. It also enables the classification of a multitude of crops produced on a large scale. 
 In May of this year, <a target="_blank" href="https://ep.naraspace.com/post/a-corn-yield-prediction-model-with-a-faster-speed-than-that-of-the-usda"> NARA SPACE announced the development of a crop yield prediction model through its satellite-based platform, ‘EARTHPAPER’</a>. This model has been developed using a wide range of data sources, including meteorological and soil data, and comprehensively considers various factors that influence crop growth.
 
 
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As a result, it has been demonstrated that both the state-level yield predictions made by the United States Department of Agriculture (USDA) for August and September and NARA SPACE&apos;s predictions exhibited an error rate of approximately 5%. This highlights the high accuracy of the model.
 
 
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 NARA SPACE&apos;s Crop Yield Prediction Report 
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Since July of this year, we have been providing a corn yield prediction report for the Corn Belt, the largest corn-producing region in the United States, covering an approximate area of 280,207 square kilometers. This report is generated using our in-house developed crop yield prediction model based on data from the year 2022. The corn yield prediction reports we provide on a monthly basis offer a distinct advantage over the corn yield prediction reports issued by the United States Department of Agriculture (USDA) from August to November. Our reports are delivered up to 72 hours faster than the USDA&apos;s publications. Furthermore, in comparison to the traditional reports, our reports include yield prediction information for counties within each U.S. state. This added detail allows for a more comprehensive and detailed examination of the data. 
 
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 ​Comparison of Corn Yield Prediction Reports for August 2023​
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When comparing the results of the USDA and NARA SPACE prediction reports published for August and September, it is evident that, for the most part, the two sets of figures show a close similarity. This can be interpreted as an advantage of NARA SPACE&apos;s crop yield prediction reports, as they provide a means for market consumers and investors to quickly gain insights into corn yields in an otherwise opaque market. This information is expected to be a valuable resource for strategic decision-making in the agricultural sector. 
 
 
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As previously mentioned, the global grain market is influenced by various factors, making up-to-date information and predictions crucial guidance for stakeholders in agriculture, investors, and end consumers. Currently, NARA SPACE provides crop condition reports only for "corn," but as time progresses, we plan to offer reports for a variety of crops grown in different countries. 
 
 
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We are committed to providing highly accurate reports that can be effectively utilized to understand global economic and agricultural trends and make informed decisions at the right time. 
 
 
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 Understanding Trends in the Global Grain Market 
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The grain market is influenced by a myriad of factors, including climatic conditions, production levels, demand, and economic considerations. Therefore, accurate grain yield predictions for the current year serve as crucial data for practical consumers and investors in the international agricultural market. This data aids in the planning and strategic decision-making related to efficiency and productivity across various sectors of agriculture. 
 
 
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Indeed, despite the persistently hot and dry weather in most southern regions of the United States throughout the summer, the corn futures prices on the Chicago Grain Exchange saw a sharp decline following the release of the USDA crop yield prediction report, which stated that the weather conditions were unlikely to significantly impact crops, as traders had anticipated. According to the USDA, the United States, the world&apos;s largest producer and consumer of corn, accounts for 33.42% of the world&apos;s corn production. This signifies the significant influence this country has on global corn supply among nations worldwide. Consequently, market prices are shaped and fluctuate based on the content of crop condition reports provided by the USDA from August to November each year.
 
 
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According to crop condition reports, global grain prices are experiencing significant fluctuations. This can potentially lead to critical food shortages for countries highly reliant on U.S. grains. Therefore, by utilizing NARA SPACE&apos;s crop condition reports, which are provided up to three days earlier than those from the USDA, one can proactively monitor information and effectively respond to grain market price fluctuations. 
 Lastly, we kindly ask for your continued interest in NARA SPACE&apos;s future endeavors, including the upcoming October corn yield prediction report.

How Reliable Is Nara Space’s Crop Yield Prediction Report?

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