Companies in this industry grow and harvest soybeans and other oilseed-producing plants, such as sunflower, safflower, flax, and canola (also known as rapeseed). No major companies dominate the industry.
Demand is driven by trends in food consumption. The profitability of individual companies depends on efficient operations. Large companies have advantages in purchasing land and equipment. Small operations can compete effectively by specializing in organic and heirloom oilseeds. The US industry is concentrated: the top 15% of farms account for about 65% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
The industry's primary product is soybeans, which account for about 90% of oilseed farming revenue. Other products include sunflower seed, canola (also known as rapeseed), flaxseed, and safflower.