Farmers have produced a record-high corn crop for the sixth year in a row, reports Bloomberg News.
Demand for corn has been soaring over the past few years, and 2011 was no different, according to the news source. Production was up 4.8 percent over the past year, bringing the total amount of corn harvested to somewhere around 867.5 million metric tons worldwide.
Prices for corn have soared as the agriculture industry is looking to keep up with the demand for meat by feeding the corn to cows. The average price of a bushel has doubled over the past two years.
"Farmers have responded to record prices by producing historic crops," Bill Gary, the president of Commodity Information Systems, told the news source.
Increasing the amount of crops that a farm plants typically requires extra equipment and vehicles to get the job done easily.The auction site IronPlanet can help farmers who want to expand their operations and take advantage of the higher demand for corn, as the site provides a wide selection of used agricultural equipment, like combine harvesters and dump trailers. Equipment marked with the IronClad Assurance symbol also comes with a full point-by-point inspection report that buyers can look over before they bid, so they know exactly what they're getting.
