Grain Farming Industry Profile

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Excerpt from Grain Farming Industry Profile

Farms in this industry grow field corn, wheat, or rice crops and seeds. No major companies dominate the industry.

Worldwide production of corn, wheat, and rice production is about 2.4 billion metric tons, according to Statista. The most important grain was corn, based on a production amount of over 1.11 billion metric tons. The United States exported over 47.5 million metric tons of corn that year, accounting for more than a third of total corn exports worldwide.

The US grain farming industry includes about 2 million farms with combined annual grain revenue of about $95 billion.

Producers of sweet corn, a vegetable, are included in the Vegetable & Melon Farming industry profile.

COMPETITIVE LANDSCAPE

Demand is driven by government policies and trends in eating grains, meat, and corn-based sweeteners, such as high-fructose corn syrup. Ethanol use has also become a factor in recent years. The profitability of individual companies depends on maximizing crop yield and minimizing disease risk. Large companies have advantages in highly mechanized operations and access to the latest in genetically modified (GM) grains. Small operations can compete by specializing in organic or non-GM grains.

Grain farms compete against oilseed and vegetable crops for farm acreage, as farmers tend to plant and harvest crops with the highest yield and payout. Field corn competes against crushed oilseed as a livestock food source.

The US is a net exporter of grains. About 15% of ...

 
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