Posted on

Who Is Interested in “Cherry” Picking Farmland?

Touch the Soil News #493 (feature photo – ripe almond nuts CC 2.5) If your contacts are many and people know you are in the business, you can create an agricultural empire by buying good farms. That seems to be the strategy of Gladstone Land Corporation. This Wall-Street investment company – focused on owning productive farmland – was organized in January of 2013. Gladstone made news recently when it acquired two large California almond farms totaling 2,485 acres. The purchase price of $27.5 million represents about $11,000 per acre. The farms are located in Stanislaus County – in the central heart of California. Stanislaus County’s economy is primary agricultural with…

Read more

Posted on

Almonds for 10.5 million Americans Taken out of Production

Touch the Soil News #342 The U.S. is the world’s largest almond producer. California is the largest almond producing state. With prices more than 1/3 below historical averages and severe water shortages in California, a big hit is coming. The nation’s largest almond grower – Wonderful Orchards – recently announced it was taking out 10,000 acres of almonds due to water constraints and poor prices. One acre of almond trees produces about 2,100 lbs. of almonds a year. Americans eat an average of 2 lbs. of almonds a year. The 10,000-acre curtailment of almond orchards represents the annual consumption of 10.5 million Americans. It’s hard to imagine taking a buldozer…

Read more

Posted on

Almonds & Farmland – Hang On to Your Checkbook

Touch the Soil News # 178 One of the trends we like to follow is how Wall Street is warming up to farmland. Gladstone Land Corporation is a publically traded company NASDAQ: LAND. Gladstone’s field of operations is in purchasing farmland and leasing it back to pre-qualified farmers. Last week, Gladstone announced it purchased three irrigated farms in Kern County, California for $19 million. The three farms make up a total of 850 acres – that’s a whopping $22,350 per acre. But that’s just the beginning. The farms are presently in wine grapes, which will be removed. The leasing farmer is going to convert the land to Almond orchards. Gladstone…

Read more