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Commodities

Crop and oil innovations with the human touch

A farmer walks through a soy bean field to check if it is ready for harvest in Minooka, IllinoisPhotographer: Jim Young
A farmer walks through a soybean field to check if it is ready for harvest in Minooka, Illinois. Photographer: Jim Young

In fast-changing commodity markets, our technology is felt everywhere from crop forecasting to oil vessel tracking. But this innovation is only part of the reason we’re trusted locally and globally.

Unpredictable and extreme climate change, shifting patterns of consumption and the impact of macroeconomic forces on prices are just some of the challenges facing agriculture and oil markets.

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Technology is helping to address many of these demands in order that industry professionals have a better idea what’s on the horizon, can understand the forces of supply and demand and manage their exposure to risk.

Thomson Reuters is at the forefront of these developments, but at the same time never loses sight of what matters: people on the ground.

For all the advances in innovation, technology needs to be balanced with human interaction and a personal touch.

That’s why we seek to be both global and local.

Agricultural insight

Some recent Thomson Reuters marketing solutions provide good examples of this.

Take Thomson Reuters Crop Watch, which uses drone technology as well as “boots on the ground” to deliver field observations through to the end of the harvest.

This means customers are able to follow the weekly evolution of corn and soybean fields, for example, via drone video and photos along with the more traditional commentary on conditions and yield expectations from growers and experts.

Tall feed corn is harvested on a warm summer day in Coatsville, Maryland. Photographer: Gary Cameron
Tall feed corn is harvested on a warm summer day in Coatsville, Maryland. Photographer: Gary Cameron

There’s also the Thomson Reuters Agriculture Forum, which uses sophisticated weather models and data balanced with insight from our Lanworth analysts.

This annual event, which was held in Chicago last week, brings together thought-leaders and key participants in the agricultural markets.

See further, know earlier and act quicker for every major commodity with Thomson Reuters Commodities

Oil industry engagement

The oil business has also seen incredible tech innovation, such as through the use of sophisticated vessel tracking.

This powerful tool from Thomson Reuters provides reliable, real-time information that is critical for a transparent and independently sourced oversight of supply and buying patterns.

An oil pump jack pumps oil in a field near Calgary, Alberta. Photographer: Todd Korol
An oil pump jack pumps oil in a field near Calgary, Alberta. Photographer: Todd Korol

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Balancing this insight into global oil flows is our more traditional commitment to oil communities in places like Calgary and Houston through oil forums or our annual client event at the Calgary Stampede.

These programs help us engage with the men and women behind our customer companies.

The Calgary Oil Forum, which was held in April, attracted thought leaders and key players in the oil industry, with market insight from keynote speakers followed by a panel discussion.

Customer collaboration

Our open platform strategy and services such as Eikon Messenger are other valuable tools helping customers to engage and collaborate with colleagues and clients.

Powerful innovation helps the world be more connected and efficient.

Panel at Thomson Reuters - From L-R: Chris Paschall (Vice President of Research for Refining, IIR) Hillary Stevenson (Analyst, Oil Markets and Business Development, Genscape) James Feaster (Consulting Senior Advisor, S&P Global Platts) Joshua Starnes (Oil Research Manager, Americas, Thomson Reuters)
From L-R: Chris Paschall (Vice President of Research for Refining, IIR) Hillary Stevenson (Analyst, Oil Markets and Business Development, Genscape) James Feaster (Consulting Senior Advisor, S&P Global Platts) Joshua Starnes (Oil Research Manager, Americas, Thomson Reuters)

However, we’re always looking to balance this with opportunities to engage, have face-to-face discussions, collaborate and collect feedback from our customers and partners.

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