Overview
The 967,000 crop farms in the US produce more than 421 million acres of commercial-scale grains, sugar, fruits, nuts, vegetables, and ornamental crops. The establishments that produce these are generally considered farms but, depending on the commodity produced, may be more specifically known as orchards, groves, greenhouses, and nurseries. About 25% of crops are grown as seed or as input for other crops or livestock.
Older Operators and the Future
There could be a mass exit of farmers from agriculture in the near future, as 36% of the principal farm operators in the US are at least 65 years old and the average age for all principal operators is 58.
Contract Farming More Popular
Contract farming is gaining in popularity among producers.
Industry Financial Benchmarks
Here are typical financial statements for crop production.
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