Agriculture remains an important economic activity in Oklahoma, even though its relative share of personal income and employment has declined since 1950. Total farm income, estimated at $4.03 billion, ranked 20th in the US in 2001. Crop marketings contributed $874 million, livestock $3.13 billion.
As of 2002, Oklahoma had 87,000 farms and ranches covering 34,000,000 acres (13,760,000 hectares). The state ranked 5th in the US for wheat production in 2002, with 98,000,000 bushels worth $343 million. Peanut production ranked 6th in 2002, with 159,600,000 lb, valued at $27,132,000. Other 2002 crop figures include sorghum for grain, 14,850,000 bushels, $34,927,000; soybeans, 7,000,000 bushels, $37,800,000; corn for grain, 24,700,000 bushels, $60,515,000; and oats, 1,110,000 bushels, $2,220,000.
Virtually all of Oklahoma's wheat production is located in the western half of the state; cotton (200,000 bales in 2002) is grown in the southwest corner. Sorghum-producing regions include the panhandle, central to southwestern Oklahoma, and the northeast corner of the state.