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U.S. farmers sell most corn since 1994

Monday, April 30, 2012

The positive performance of the American agricultural sector has been mirrored by a growth in global demand for food, something that U.S. farmers could benefit from in the coming years.
The positive performance of the American agricultural sector has been mirrored by a growth in global demand for food, something that U.S. farmers could benefit from in the coming years.

The fate of the U.S. economy has ebbed and flowed over the past several years, but innovative methods, manageable weather and improvements in technology have allowed the agricultural sector to prosper. In 2012, people who used farm equipment sold more corn than at any other time in more than 18 years, Bloomberg News reported.

According to the news outlet, farmers in the U.S. were able to meet the demand for corn, as exports reached 1.44 million metric tons of the crop in a single day.

The positive performance of the American agricultural sector has been mirrored by a growth in global demand for food, something that U.S. farmers could benefit from in the coming years.

"The world has to eat," Jeffrey Sica, the Morristown, New Jersey-based president of SICA Wealth Management who helps oversee about $1 billion of assets, told Bloomberg. "Everything from grains to soybeans is being shipped to China, as we’re seeing an emerging middle class. Demand is very much there."

AgriMoney.com reported that the recent corn has not been the only crop that has hit records this year, as soybean farmers have also benefited from the rise in value of the commodity in 2012.

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