SIC 0116 Soybeans

Encyclopedia of American Industries | 2005 | Copyright

SIC 0116
SOYBEANS

This industry consists of establishments primarily engaged in the production of soybeans.

NAICS Code(s)

111110 (Soybean Farming)

Industry Snapshot

Soybeans are the second largest cultivated crop in the United States, behind corn, with more than 70 million acres harvested annually. In 2001 the United States produced more soybeans than any other country, producing about 42 percent of the world's total. According to American Soybean Association (ASA), soybeans provided 83 percent of the edible consumption of fats and oils in the United States in 2001.

Soybeans, which possess high quantities of protein, and soybean products are used in a wide range of food and industrial products. Soy products have three major divisions: soy oil products, whole bean products, and soy protein products. Food products include baby food, cereal, diet foods, imitation meats, processed meats, soy sauce, tofu and miso, salad dressings and margarine, cooking oil, candy, and baked goods. Soybeans are used in pet foods and as the leading source of protein meal for U.S. livestock. Industrial uses for soybeans include wallboard...

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