A new AI tool called CommodiTrack is helping farmers and traders predict commodity prices using global climate data. Developed by Helios Artificial Intelligence Inc., this tool tracks 58 commodities, including corn, soybeans, and wheat, and provides buy and sell recommendations.
How It Works
CommodiTrack analyzes weather patterns from the past 10 years and compares them to current conditions. This helps users see how past weather trends affected crop prices and make better trading decisions. Farmers can also compare conditions in other countries to understand global market trends.
Pricing and Availability
The tool costs $99 per month per commodity or $699 per month for all commodities (discounted to $399 until March). It offers real-time insights that were previously hard to access.
Who Can Benefit?
CommodiTrack is most useful for medium to large farms, especially those with flexibility in when they sell their crops. It helps farmers compare their local market with global competitors, such as wheat producers in Russia, Ukraine, and France.
Accuracy and Limitations
Helios AI tested CommodiTrack with historical data and found it was correct 70% of the time. However, the tool only considers supply-side climate data and does not factor in demand trends, which also affect prices. Experts recommend using it alongside other market analysis tools.
Final Thoughts
While CommodiTrack isn’t a guaranteed way to predict prices, it provides valuable insights. Farmers should consult with brokers or advisers to fully understand its recommendations. By combining this tool with their own experience, they can make smarter business decisions.
Source: agriculture
