It always helps to have a cool name. Farmetrics. The release says the site is “sponsored” by Bunge Global Markets, Inc. The copyright on the site says Bunge so I’m thinking it’s more like a Bunge website don’t you think? If not let me know.

Farmetrics, the first prediction market tailored for U.S. agribusiness, enables participants to learn more about local, state and national crop conditions. Using their knowledge and experience in the agricultural industry, participants submit predictions for local planted acreage, yield and harvested acreage at www.farmetrics.com. These predictions are aggregated and shared weekly with participants. Farmetrics provides access to information as local as the county level. Farmetrics participants can even earn Reward Points redeemable for prizes at an online catalog. There is no cost to participate or win.

“Gaining real-time, more accurate information about local crop conditions is vital to U.S. agribusiness,” said Bill Towles, who manages farmer focus programs for the Web site’s sponsor, Bunge Global Markets, Inc. “The Farmetrics Prediction Market helps everyone manage risk more closely. It is already proving to be an important tool in understanding supply conditions around the country.”