Corn, soybeans account for more than half of the 2022 U.S. crop cash receipts (2024)

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Corn, soybeans account for more than half of the 2022 U.S. crop cash receipts? ›

Crop cash receipts totaled $278.2 billion in calendar year 2022. Receipts from corn and soybeans accounted for $148.5 billion (53.4 percent) of the total.

Corn is the most produced crop in the world. It's a cash crop due to its consumption as food and as a component in many types of products.

Soybeans have become a cornerstone of American agriculture, contributing $124 billion to the U.S. economy in 2022, according to a study conducted by the National Oilseed Processors Association and the United Soybean Board.

In the United States, the industry directly employs nearly 7,200 people with salaries and wages over $900 million. Further, every job directly supported by the corn refining industry adds an additional 23 jobs across the U.S. contributing an additional $10 billion in incomes.

Major uses of corn in the US

According to the U. S. Department of Agriculture, about 40% of the corn used in the U.S. is fed to animals. Another 40-45% is used to make ethanol biofuel and the remaining 20% of corn used in the U.S. is made into human food products or used for other industrial purposes.

Corn, soybeans account for more than half of the 2022 U.S. crop cash receipts. Crop cash receipts totaled $278.2 billion in calendar year 2022. Receipts from corn and soybeans accounted for $148.5 billion (53.4 percent) of the total.

United States. The United States holds the distinction of being the top producer of corn in the world at 354.19 million tonnes and the top exporter, sending 57.79 million tonnes to overseas markets. Domestic consumption is expected to reach 304.81 million tonnes with 132.72 million used for feed.

The total world production for soybeans in 2022 was 348,856,427 metric tonnes, down 6.4% from 372,853,699 tonnes in 2021. Brazil was the largest producer, accounting for 35% of world production, followed by the United States at 33%.

Just over 70 percent of the soybeans grown in the United States are used for animal feed, with poultry being the number one livestock sector consuming soybeans, followed by hogs, dairy, beef and aquaculture.

Researchers say they have turned up more evidence that policies that subsidize foods such as meat, cheese and corn are helping make Americans fatter.

What is the majority of corn and soybeans grown used for? ›

Most of the crop is used domestically as the main energy ingredient in livestock feed and for fuel ethanol production.

Since the first genetically modified corn was released in 1996, another 243 distinct varieties of GMO corn have been created. In 2022, GMO corn made up an estimated 93% of the corn planted in the U.S., occupying more than 86 million acres.

Aside from sugar cane in first place, the next the top three most produced crops in the world are all classified as grains. Grains include cereals and legumes and are such a widespread crop because they can grow in almost any climate.

The most widely used commodity money was Indian corn; dried corn could be kept for months and was versatile in that it could be used either as seed or animal feed for chickens, cows or horses or turned into corn meal.

Cash crops are agricultural crops that are planted for the purpose of selling on the market or for export to make profit, as distinguished from subsistence crops planted for the purpose of self-supply of the farmer (like livestock feeding or food for the family).

The first cash crop which helped America's economy grow is tobacco. Tobacco grew very well in the early Thirteen British-American Colonies, this crop was especially prevalent in Virginia, people would immigrate to come work in the tobacco fields.

By the early 1800s, cotton emerged as the South's major cash crop—a good produced for commercial value instead of for use by the owner. Cotton quickly eclipsed tobacco, rice, and sugar in economic importance. Printed depicting enslaved people using the cotton gin.