China-Based Tech Giant Says Farmers’ Sentiments Can Foretell Future Crop Price Fluctuations
In China, traders are using streaming apps to predict the future of grain prices, reports Gemma Minda Iso for the Independent Singapore. For instance, a farmer in the rural northeast utilizes his phone to film trucks lining up to load mounds of golden corn. At the same time, approximately 2,000 miles away in a Shenzhen office, someone is attentively watching, probing into the producer’s animated remarks combining it with images of his fields for clues on supply and demand.
“It provides intuitive information about the domestic markets,” 33-year-old Wei said of his experience on the Kuaishou app, a short-form video platform backed by tech giant Tencent Holdings Ltd. “Traders are seeking correlations between farmers’ sentiment and future price fluctuation.”