- Language: English
- 226 Pages
- Published: January 2012
- Region: Global
Oilseed Farming in the US
- ID: 1052460
- August 2014
- Region: United States
- 10 pages
- First Research
Brief Excerpt from Industry Overview Chapter:
Companies in this industry grow and harvest soybeans and oilseed-producing plants such as sunflower, safflower, flax, and canola (also known as rapeseed). No major companies dominate the industry.
Worldwide, oilseed production totals about 385 million metric tons. Soybeans are by far the largest oilseed crop, accounting for about 70 percent of global production. Soybean production is concentrated in the Americas. Top soybean exporters include Brazil, the US, and Argentina.
The US oilseed farming industry includes about 300,000 farms, about 65,000 of which generate the majority of their revenue from oilseeds, with combined annual revenue of about $43 billion.
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: about 15 percent of the farms account for about 60 percent of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include soybeans (90 percent of the market). Other products include sunflower seed, canola (also known as rapeseed), flaxseed, safflower, and peanuts grown for oil.
Soybeans are bushy, green legumes related to clover, peas, and alfalfa. Farmers plant seedlings in late spring after the danger of frost has passed. Most oilseed is grown on dry land in a crop rotation with corn. Planting the two crops in succession improves weed control, lowers pest and disease risk, and requires less fertilizer.
Quarterly Industry Update
Call Preparation Questions
Web Links and Acronyms