Iowa senators question the accuracy of USDA crop yield forecasts

Introduction: Washington, Aug 25: the U.S Department of agriculture publishes its forecast data on U.S crop production every month, and the market is extremely sensitive to the data However, an Iowa weekly senator on Wednesday questioned the accuracy of the monthly crop production forecast report data released by the U.S Department of agriculture, and found that there were errors in the data, which caused many farmers to suffer Substantial losses Tom Harkin, a Democrat of the United States, asked the Government Accountability Office (GAO) to evaluate the accuracy and reliability of the USDA's crop yield forecast report and the supply and demand forecast report, because USDA overestimated the end of term commodity inventory The U.S Department of Agriculture released the monthly report on August 12, which attracted more attention from farmers and commodity traders around the world The report will be released again by the U.S Department of agriculture on September 10 Harkin wrote to Gao that for several years, many farmers believed that the data released by the USDA was flawed and had caused them losses Based on the evaluation of the expected data from the U.S Department of agriculture, the survey results show that in the past 20 years, the U.S Department of agriculture has overestimated the ending inventory of most commodities A spokesman for the Gao said it was reviewing Harkin's request and had not yet decided whether an investigation was necessary USDA officials have yet to comment In recent months, people from all walks of life have focused on the real accuracy of the 2003 / 2004 soybean ending inventory forecast data released by the U.S Department of agriculture, which is 105 million Pu, the lowest point since 1976 Harkin said one market analyst said the data was low For many farmers, the data in this area is crucial, and there must be no mistakes The overestimation of 03 / 04 soybean stock level in the United States has seriously affected the income of farmers.