Industry Analysis & Industry Trends
Over the past decade, corn has become the cash crop of the 21st century. The crop's popularity has been facilitated by federal mandates for ethanol use that are designed to reduce the United States' foreign oil dependency. With rising demand, the adoption of genetic modification (GM) technology has helped farmers heighten yields. Furthermore, both domestic and global demand growth exceeded the rise in supply, resulting in price increases and improved profitability for growers. While industry revenue is expected to fall over the five years to 2019, the long-term future for corn farmers is expected to be optimistic, since demand is anticipated to keep growing as renewable energy targets rise each year... purchase to read more
Industry Report - Industry Key Buyers Chapter
Typical of the agricultural sector, Corn Farming industry in the United States is overwhelmingly composed of a large number of relatively small operators, many of which are family-owned farms. In fact, about 55.3% of farms plant corn acreage totaling less than 100 acres. Conversely, only 11.7% of corn is produced on farms covering 500 acres or more.
There is a long-term trend toward fewer farms across the agricultural sector, which also applies to corn farmers. Industry concentration is growing largely due to rising costs and intensifying competition; as conditions toughen, smaller farms are forced to sell their land. As a result, fewer, yet larger farms emerge across the industry... purchase to read more