While other grains have moved down recently, corn prices remain strong. Roughly 95% of our corn crop is fed to livestock and poultry while the other 5% is fed to cars and trucks in the form of ethanol. The U.S. is the largest producer, consumer and exporter of corn. In fact, exports were up 55% week to week. Cumulative sales for 2024/25 remain modestly ahead of last years’. Some reports suggest that Mexico’s recent firm stance against cartel movement across the border may influence President Trump to reduce tariffs, helping corn prices rise roughly 11 cents this week.
GOLD GROWS BOLD AS PROBLEMS UNFOLD
This week, gold prices pushed over $3,000 per oz again. Differing factors come into play affecting the price of gold worldwide since the commodity serves as a safe haven for many investors. Geopolitical instability and conflict can drive the gold market upwards, and recent issues concerning tariff shifts and trade wars have had that effect across the globe.
Shifting policies realigning allies and threatening world stability, especially between the U.S. and Russia, also raise questions about financial stability, moving investor confidence toward the safety of gold. As interest rates trend downward and inflation threatens the value of the dollar, gold’s safety looks like a better bet. In addition, central banks across the world are investing in physical gold for greater stability, especially after seeing the economic effects of sanctions on Russia’s economy. The demand for gold is also increased by its use in jewelry, electronics, healthcare, semiconductors, and space travel. Since supplies are finite, mining is producing less gold. World turmoil and flux continue to make this metal a golden investment.
FARMLAND: NOW YOU SEE IT; NOW YOU DON’T
More than 31 million acres of farmland have been lost to such things as urban and commercial development since 1982 according to a Virginia Tech Ag report. The article notes that another 175 acres of farmland and ranchland are lost every hour to make way for urban spread and industry.
Some powerful effects of this loss include a reduction in the best, environmentally sound land used to grow food; the increase in farmland prices; and the inability of young farmers to find and own the land. From 2017 to 2022, the number of farms has decreased by 6.9%. In 2021, 2.04 million farms operated, but by 2024, that number decreased to 1.88 million farms.
People over 65 own 40% of farmland, and the average age of farmers stands at 58.1 years. Although farm production is aided by modern advances, this farmland loss and dearth of young farmers is not sustainable if U.S. farmers are to continue feeding our current and future increasing population.