The United States remains one of the world’s leading producers and suppliers of agricultural products. The farming industry in the U.S. employs approximately 800,000 individuals across the nation. The real estate value of farm land in the U.S. is valued at more than $2 trillion.
Farm production costs were estimated at just under $350 billion in 2016, down a little more than 4 percent from 2017. The largest four farm expenditures were feed, farm services, livestock and poultry, and labor. Combined, these expenditures account for almost half of total farm production costs.
Exports of agricultural products from the U.S. total more than $130 billion annually with the greatest number of products being exported to China, Canada and Mexico. The U.S. also imports agricultural products. Canada, the European Union and Mexico account for the majority of the more than $113 billion in agricultural goods imported into the U.S. annually.
Genetic engineering has been a significant agricultural topic over the past 10 years. The U.S. has the highest number of acres of genetically modified crops worldwide. Many of these crops have a high share of genetically modified crops per species. In 2016, for example, almost 95 percent of all U.S. soybeans were herbicide tolerant.
Top 6 states with the most farmers are:
1. Kentucky 2. Texas 3. Tennessee
4. Illinois 5. Iowa 6. North Carolina
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