USDA Data Accurate and Reliable, Independent Study Finds

U.S. corn growers have occasionally voiced doubts about the accuracy of USDA reports. In response to these concerns, the National Corn Growers Association commissioned an independent study to determine the accuracy of USDA data. Professors at Virginia Tech, the University of George and the University of Illinois conducted an unbiased review.

The researchers found that USDA estimates of corn yields were consistently accurate, and its price forecasts were more reliable than alternatives based on future prices. They noted that “most of the evidence confirms” that USDA reports are accurate and reliable and that it is otherwise difficult to find better sources of information. Previous research shows that private-sector forecasts are usually unable to beat USDA information. The researchers analyzed 80 studies in total to ensure a level playing field.

Read more on USDA report accuracy here.