The changing structure of US agriculture and implications for research in agribusiness firms

Substantial structural changes in US agriculture have major impacts on farms and supporting agribusiness firms. These changes are reflected by a reduction in the scope of the on-farm agricultural production sector and a greater reliance on purchased technology in the form of service capital and intermediate inputs. Agribusiness firms that take advantage of growing opportunities to develop new technologies and embody them into marketable service capital will benefit from the structural changes.