The Soybean Farming industry experienced a volatile five years to 2017. Industry revenue grew immensely prior the beginning of the period, lifted by skyrocketing oilseed prices, giving the industry an inflated starting point. The rising demand for food from developing countries has supported industry exports; however, the appreciating US dollar has kept exports from rising at a fast rate. Meanwhile the rapid expansion of biofuel production spurred demand for soybeans at home. Demand for oilseeds, including soybeans, flatlined in 2013 just as production peaked, resulting in a steep decline in prices. In turn, industry revenue cratered that same year and drastically declined in 2015. Over the five years to 2022 soybeans are anticipated to maintain their position as the second-largest crop in the United States, behind corn. Still, the Soybean Farming industry is heavily exposed to volatility from external factors, such as weather conditions, market prices and government subsidies. Consequently, profit margins may vary greatly from year to year.
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.