The Soybean Farming industry experienced a volatile five years to 2016. Industry revenue grew immensely during the beginning of the period, lifted by skyrocketing oilseed prices. The rising demand for food from developing countries has supported industry exports, however the appreciating US dollar has kept exports steady. Meanwhile the rapid expansion of biofuel production spurred demand for soybeans at home. In addition, a surge in foreign inventory is responsible for the United States' declining share of global exports. During the next five years, soybeans are anticipated to maintain their position as the second-largest crop in the United States, behind corn. Still, the industry is heavily exposed to volatility from external factors, such as weather conditions, market prices and government subsidies.
Farms in this industry grow soybeans as their main crop. Soybeans are most often used in livestock feeds and vegetable oils, with a small but growing proportion being used in biofuel production. Establishments that sell soybean seeds to US farmers for growing crops are also included.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.