Grain Farming
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 1.2 billion metric tons. The United States accounting for nearly a third of total corn exports worldwide, according to Farmdocdaily.
The US Crop industry, which includes the grain farming industry, with combined annual cash receipts of about $280 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. The US primarily exports to Mexico and Japan for both wheat and corn. Its imports are typically from Canada and Argentina. Most of the rice produce of the US goes to countries such as Mexico, Venezuela, and Honduras.
Products, Operations & Technology
Major products in the US Crop industry, which includes grain farming, are corn and soybeans. Other products include fruits and nuts, vegetables and melons,
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Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms