111110 - Soybean Farming
When it comes to the backbone of America’s agricultural economy, NAICS Code 111110 stands out as a key classification. This code specifically pertains to Soybean Farming, an essential sector that supports food production, livestock feed, and biofuel industries. In this blog post, we will explore the definition, industry scope, business activities, and size standards associated with NAICS 111110, providing valuable insight for contractors, farmers, and government agencies alike.
What is NAICS Code 111110?
NAICS 111110 is the North American Industry Classification System code assigned to Soybean Farming. This industry includes establishments primarily engaged in the cultivation and production of soybeans. While these farms might grow multiple crops, their primary focus lies in soybean planting, growing, and harvesting—both for general field production and seed propagation.
Key Highlights:
- Growing soybeans for commercial markets
- Field and seed production of soybeans
- Includes conventional and organic soybean farming
Sector: Crop Production
Soybean farming falls under the Crop Production sector, which encompasses a broad range of agricultural activities focused on growing crops for food, industrial use, and feed. Soybeans, being a versatile and protein-rich legume, hold a vital role within this sector.
Typical Business Activities Under NAICS 111110
Businesses classified under NAICS 111110 generally engage in:
- Commercial Soybean Farms: Large-scale operations focusing on high-yield soybean production for sale in commodity markets.
- Organic Soybean Growers: Farms specializing in organic cultivation methods without synthetic chemicals or genetically modified seeds.
- Contract Soybean Producers: Growers entering contracts with manufacturers or processors to produce specific soybean quantities or qualities.
These activities contribute to domestic food supply chains and support industrial uses, such as biodiesel production and soy-based products.
Size Standard for NAICS Code 111110
For small business eligibility under government contracting programs, the size standard for NAICS 111110 is:
- $2.25 million in average annual receipts
This means companies with an average annual revenue of $2.25 million or less are considered small businesses under this code, which can help them qualify for certain SBA programs and government contracts.
NAICS 111110 Code Details at a Glance
| NAICS Code | Title | Description | Sector | Size Standard | Typical Business Types |
|---|---|---|---|---|---|
| 111110 | Soybean Farming | Establishments primarily engaged in growing soybeans; may grow other crops as well | Crop Production | $2.25 million in average annual receipts | Commercial Farms, Organic Growers, Contract Producers |
Frequently Asked Questions (FAQ) About NAICS Code 111110
Q1: Can a farm growing multiple crops be classified under NAICS 111110?
A: Yes, if the primary crop is soybeans, the farm can be classified under NAICS 111110, even if other crops are produced.
Q2: What industries use soybeans produced by these farms?
A: Soybeans serve various industries including food manufacturing, livestock feed, biofuel production, and industrial products.
Q3: How is the size standard determined for this NAICS code?
A: The Small Business Administration (SBA) sets the size standard based on average annual revenue, which is $2.25 million for NAICS 111110.
Q4: Are organic soybean farms included in NAICS 111110?
A: Yes, organic soybean growers fall under this classification as long as their primary business is soybean production.
Conclusion
Understanding NAICS Code 111110 - Soybean Farming is crucial for farmers, business owners, and contractors aiming to navigate agriculture-related government programs and market opportunities. This code not only defines the economic scope of soybean production but also helps classify businesses for regulatory and contracting purposes. Whether you are managing a commercial soybean farm, engaging in organic production, or fulfilling contract farming agreements, recognizing the significance of this classification can help you maximize your business potential.
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