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Soybean Farming in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Soybean Farming Market Research Report | NAICS 11111 | Apr 2016

Hill of beans: Competition from foreign producers threatens industry growth

IBISWorld’s Soybean Farming market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$35bn
Annual Growth 11-16
-0.3%
Annual Growth 16-21
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Profit
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Employment
103,567
Businesses
100,200
Industry Analysis & Industry Trends

The Soybean Farming industry experienced a volatile five years to 2016. Industry revenue grew immensely during the beginning of the period, lifted by skyrocketing oilseed prices. The rising demand for food from developing countries has supported industry exports, however the appreciating US dollar has kept exports steady. Meanwhile the rapid expansion of biofuel production spurred demand for soybeans at home. In addition, a surge in foreign inventory is responsible for the United States' declining share of global exports. During the next five years, soybeans are anticipated to maintain their position as the second-largest crop in the United States, behind corn... purchase to read more

Industry Report - Industry Analysis Chapter

Much of the Soybean Farming industry’s revenue growth over the past five years can be attributed to rising soybean prices. This trend is not unique to soybeans but is rather part of a general increase in the price of commodities, including minerals and metals. What appeared to be a one-time surge in 2007 has remained a market characteristic of this industry. Soybean prices have not dipped below $9.00 per bushel since 2008 and have stayed well above $11.00 per bushel since 2011.

Boom turns to bust

According to the US Department of Agriculture (USDA), sluggish growth in agricultural outputs in the previous decade combined with larger populations and incomes in developing countries set the stage for increased soybean prices... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Soybean Farming Industry?

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.

Industry Products
Soybean mealSoybean oilSoybean hulls
 
Industry Activities
Soybean farmingSoybean seed production


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