Major Group SIC 0116

SIC 0116 - Soybeans

SIC 01 - Agricultural Production Crops
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs
- SIC 011 - Cash Grains
  SIC 011 - Cash Grains SIC 013 - Field Crops, Except Cash Grains SIC 016 - Vegetables And Melons SIC 017 - Fruits And Tree Nuts SIC 018 - Horticultural Specialties SIC 019 - General Farms, Primarily Crop
  - SIC 0116 - Soybeans
    SIC 0111 - Wheat SIC 0112 - Rice SIC 0115 - Corn SIC 0116 - Soybeans SIC 0119 - CashGrains,NotElsewhereClassified

Establishments primarily engaged in the production of soybeans.

Industry trends:

The soybean industry (NAICS 0116) has seen several crucial qualitative trends and emerging forecasts in recent times. One significant trend is the heightened focus on sustainable and regenerative agricultural practices. Farmers and producers are increasingly adopting methods that aim to reduce environmental impact while sustaining long-term productivity, such as crop rotation, no-till farming, and organic fertilizers.

Additionally, the demand for non-GMO and organic soybeans is on the rise, driven by consumer preferences for healthier and more environmentally friendly food options. This shift is prompting producers to change their cultivation methods and seek certification that can justify a premium price in the market.

The integration of technology in soybean farming is gaining momentum. Innovations such as precision agriculture, including the use of drones, sensors, and AI-driven analytics, are helping improve yield predictions, optimize resource use, and increase overall efficiency.

Looking ahead, the current global geopolitical dynamics, such as trade policies and tariffs, will continue to influence soybean markets. The ongoing development of soybean-based products, ranging from biofuels to plant-based meats, hints at new market avenues and greater diversification for producers.

In the near future, we can expect consolidation within the industry as smaller farms collaborate or merge to adapt to market pressures and capitalize on technological advancements. These trends suggest a soybean industry that is moving towards more sustainable practices, technological integration, and diversification of products, paving the way for resilience and growth.

This industry is comprised of:

Soybean farms

Explore related industries:

SIC 0253 - Turkeys And Turkey Eggs SIC 0724 - Cotton Ginning SIC 2075 - Soybean Oil Mills

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