"The agriculture, mining and oil and gas businesses are booming globally, and mining firms have been plagued by a lack of available earth-moving and subsurface mining equipment," notes Paul Tracy.
To benefit from this trend, the editor of The StreetAuthority Market Advisor recommends Ritchie Brothers Auctioneers (NYSE: RBA), the "largest auctioneer of used industrial and agricultural equipment in the world."
"The prices of wheat, soybeans, corn and other basic food commodities are surging to new multi-year highs. There are two main drivers of this trend: rising consumption of agricultural commodities in emerging markets and increased consumption of crops for biofuels production.
"The developing world is also driving demand for petroleum products and other raw materials. A building boom in China, for example, is driving demand for steel, copper and aluminum used in building construction.
"One problem holding back these industries in recent years is a shortage of equipment. Mining firms have been plagued by a lack of available earth-moving and subsurface mining equipment. And agricultural products producers need tractors, combines and other equipment that are in short supply globally to efficiently run their farms.
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