Industry Analysis & Industry Trends
The Soybean Farming industry experienced strong growth over the five years to 2013, mainly due to the crop's status as a major input for biofuel. The Renewable Fuels Regulations of 2010 allowed Canada to use soybeans as a renewable energy source to make biodiesel. Through the next five years, domestic and international government mandates for renewable fuel will keep soybean prices above historical levels for the five-year period. Also, demand from emerging nations like China will keep exports high, expanding another revenue stream for the Soybean Farming industry. Strengthening overseas competition is anticipated to keep revenue volatile, though... purchase to read more
Industry Report - Starting a New Business Chapter
Overall, there are few barriers to entry into the Soybean Farming industry. Generally, all inputs are readily available, farmers can easily shift between agricultural activities, and there is often a number of farms available for sale. Nonetheless, capital investment requirements and problems securing financing for such an investment may deter some potential industry entrants. On the other hand, it is much easier for existing grain producers to switch to soybeans or include them as part of their plantings. Beyond seeds, soybean farming requires no special inputs. Existing farms can simply reallocate their expertise, land, machinery, fencing and buildings to soybean growing.
Setting up a farm from the ground up requires considerable investment... purchase to read more