That’s a difficult concept to keep in mind when you’re breathing the intoxicating vapors of a boom market. That means two things: 1) more Midwestern soil will be planted to row crops this spring, which means more erosion, less wildlife habitat and more contaminated water and 2) the belief that row crop agriculture is the key to sustainable rural economic development is being reinforced with each new market report.īut let’s keep one thing in mind: betting everything on one commodity, whether it be corn or krugerands, is not sustainable. Give it a listen (episode 47) before you call up your broker and buy corn futures on the CBOT.įueled by ethanol’s insatiable thirst and increased global demand for grains in general, corn, as well soybeans (May beans closed at $14.38 per bushel Friday-try eating tofu at those prices!), are on an unprecedented run of high prices. There’s nothing wrong with rural America that high corn prices won’t fix, right? I read that price quote soon after finishing an LSP Ear to the Ground podcast on a rural economic development model that has little to do with betting the farm (and the land) on one or two raw commodities. May corn futures on the Chicago Board of Trade closed at $5.35 per bushel today. Posted February 22nd, 2008 by Brian DeVore, Land Stewardship Project. Sustainable Development in the Age of Golden Grain
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