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U.S. Forecasts on Corn Crop Increasingly Unreliable, WSJ Says

The U.S. Department of Agriculture’s monthly corn crop estimates for last year’s harvest overestimated the final harvest by 6 percent, more than twice the error of most USDA crop estimates from 1998 to 2008, the Wall Street Journal said, citing its own analysis.

The error was less than 3 percent in eight of the 11 years, the Journal said. In 2009, the USDA underestimated the final crop number by an average of 4.5 percent, the most since 2004, it said. USDA estimates for this year suggest the crop is overestimated by 10 percent, it said.

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