NAICS 11119 - Other Grain Farming
This industry comprises establishments primarily engaged in (1) growing grain(s) and/or producing grain seeds (except wheat, corn, and rice) or (2) growing a combination of grain(s) and oilseed(s) with no one grain (or family of grains) or oilseed (or family of oilseeds) accounting for one-half of the establishment's agriculture production (value of crops for market). Combination grain(s) and oilseed(s) establishments may produce oilseed(s) and grain(s) seeds and/or grow oilseed(s) and grain(s).
Industry trends:
The NAICS 11119, Other Grain Farming industry, has been experiencing several notable qualitative trends. One significant trend is the increased adoption of sustainable agriculture practices. Farmers are increasingly turning to organic farming methods, cover cropping, and reduced tillage to improve soil health and reduce environmental impact. This shift is partly driven by consumer demand for sustainably produced goods and government incentives promoting eco-friendly farming practices.
Another trend is the digital transformation within the farming sector. Advanced technologies such as precision agriculture, drones, and IoT are being increasingly used to monitor crop health, optimize resource use, and increase overall efficiency. These technologies help farmers make data-driven decisions, ultimately leading to higher yields and reduced input costs.
Looking towards the near future, the grain farming industry is expected to see continued growth in the adoption of these sustainable and technology-driven practices. Climate change will likely further push the industry towards resilience strategies, such as drought-resistant crop varieties and improved water management systems. Additionally, market volatility due to geopolitical factors and changing trade policies may impact grain prices and export opportunities, influencing planting decisions and farm profitability.
This industry is comprised of:
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- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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