Soybean Farming in the US
The Soybean Farming industry experienced a volatile five-year period. 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 rapid rate. Meanwhile, the accelerated expansion of biofuel production spurred demand for soybeans at home. Having helped farmers expand their production, the adoption of genetically modified seeds is reaching a saturation point and is no longer a major source of production improvement. Additionally, the biofuels segment, which rejuvenated the industry and strengthened domestic demand, is stabilizing. Over the five years to 2023, soybeans are anticipated to maintain their position as the second-largest crop in the United States, behind corn. Nevertheless, the Soybean Farming 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.
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