Recent research by DecisionNext Head Economist David Boussios highlights a critical issue in the agricultural sector: the deceleration of U.S. crop yield growth.
Since World War II, new technology and better farming practices have increased the efficiency of crop production by leaps and bounds. For example, U.S. corn yields per acre went from 38.2 bushels in 1950 to 152.6 bushels by 2010. However, in the past decade, this increase has slowed down, raising concerns about future food production and prices.
Dr. Boussios’ statistical analysis reveals a hidden slowdown in U.S. crop yield growth within long-term trends. This finding shows that important trends can be overlooked due to repetitive processes. By using basic statistical methods, we can find new market insights, similar to how DecisionNext uses machine learning to find market price patterns.
To get a full in-depth analysis, read the article in Choices Magazine, published by the Agricultural and Applied Economics Association. It’s the leading academic association in agricultural economics.
