USDA Data Security?

[Jim Meade / Iowa City]

In the midst of the conspiracy theories one hears surprisingly little about the chance of China or Russia hacking into the USDA data bases, especially the reports, and using that information to trade for their benefit. If Snowden can blow the whistle on NSA and every week or so we hear a story of a major data breech, would it surprise anyone if the Russian and Chinese governments targeted the USDA report numbers? They would have no interest in broadcasting that. Private hackers would almost certainly try to make money if they hacked into the reports, either by trading the information or selling it, and it is very unlikely that information could be kept secret for very long. Governments would have no benefit to letting the information out. Are you confident that the USDA numbers are secure? How would you know if data were not? How would that affect your trading?

[sw363535]

I'd sell cattle futures!!!!   

🙂

Jim there is an underlying assumption in your post that the data is warth protecting..... and I guess from a single day profit trader it might be...

But I think the reality of the value of that data keeps it protected...

If it were ICBM key codes or government employees bank account numbers and banktransfer #s there would be an actual value to be acquired, but really.... what does the usda's guesstometronics numbers really tell us,,, even the trade goes contrary to the numbers on occasion...

But thanks for the smile, and I think you have a point.  To protect their our valuable facts pertaining to the actual size of the crop yet to be harvested--------- we should ask usda to keep it to themselves..    🙂

[giolucas]

Insider information is as casual as a top USDA executive telling his wife, family or friends at dinner that the Report this Friday is going to be bullish.   It probably happens every single day and someone has the information way before the General Public.

[illinifarmer]

Exactly couldn't have said it better. Those numbers have been proven far from accurate time and time again. Also yes the market usually trades the opposite anyway. Maybe it's just me, but it is a world market why not share? Half of the world is starving and we are concerning ourselves with speculative number hacking WOW!

[elcheapo]

Why would Russia and China do that?

You think they will do a cyber attack on USDA ?

They are smarter than that, they have concluded

That the USDA doesn't need any help shooting the
Farmers in the foot, they already do a good enough job at that the way it is

[Jed Stivers]

China knows our crop condition much better than the usda. They don't need to hack it but I'm sure they do just because they can. 

Russia is prol the same but it's not as important to them as China. 

[northnd]

So I'm supposed to concern myself with half the world starving now?  I make a whoping $.03 on a loaf of bread with the wheat I raise so maybe hacking or faulty USDA reports could knock that down to $.02.  That should help feed a few more people.   Trouble is it would just add profit to the people that deal with my product not consume it. 

[sw363535]

Two groups will always be there, even if they are knee deep in tootsie rolls.... those who are starving and those who won't eat anything unless it belongs to someone else.