Farmland Prices: Is This Time Different?

The historical behavior of farmland prices, rental rates, and rates of return are examined by treating farmland as an asset with an infinitely long life. It is found that high (low) farmland prices relative to rents have historically preceded extended periods of low (high) net rates of return, rather than greater (smaller) growth in rents. Our analysis shows that this attribute is shared with stocks and housing, and the financial literature provides ample evidence that other assets feature it as well. The long-run relationship linking farmland prices, rents, and rates of return is analyzed. Based on this relationship, we conclude that recent trends are unlikely to be sustainable. The study explores the expected paths that farmland prices and rates of return might follow if they were to eventually conform to the average values observed in the historical sample, and concludes with a discussion of the policy implications. Recommendations for policy makers include close monitoring of farmland lending practices and institutions to allow early identification of potential problems, and identifying in advance appropriate interventions in case recent farmland market trends were to suddenly change

A research agenda for seed-trait functional ecology

Trait-based approaches have improved our understanding of plant evolution, community assembly and ecosystem functioning. A major challenge for the upcoming decades is to understand the functions and evolution of early life-history traits, across levels of organization and ecological strategies. Although a variety of seed traits are critical for dispersal, persistence, germination timing and seedling establishment, only seed mass has been considered systematically. Here we suggest broadening the range of morphological, physiological and biochemical seed traits to add new understanding on plant niches, population dynamics and community assembly. The diversity of seed traits and functions provides an important challenge that will require international collaboration in three areas of research. First, we present a conceptual framework for a seed ecological spectrum that builds upon current understanding of plant niches. We then lay the foundation for a seed-trait functional network, the establishment of which will underpin and facilitate trait-based inferences. Finally, we anticipate novel insights and challenges associated with incorporating diverse seed traits into predictive evolutionary ecology, community ecology and applied ecology. If the community invests in standardized seed-trait collection and the implementation of rigorous databases, major strides can be made at this exciting frontier of functional ecology.Commonwealth Scientific and Industrial Research Organisation. Grant Number: R‐90470‐0

Denial of long-term issues with agriculture on tropical peatlands will have devastating consequences

Non peer reviewe

Resposta de arroz de terras altas, feijão, milho e soja à saturação por base em solo de cerrado Response of upland rice, dry bean, corn and soybean to base saturation in cerrado soil

Foi conduzido um experimento de campo, quatro anos consecutivos (1995/96 a 1998/99) para avaliar a resposta das culturas de arroz de terras altas, feijão, milho e soja à saturação por base em Latossolo Vermelho-Escuro distrófico (LEd) (Oxissolo) cultivados em sistema de sucessão. Os valores de saturação por base criados pela aplicação de calcário, foram: 40, 44, 51, 53, 56 e 66%. Ocorreu aumento significativo na produção de grãos de feijão, milho e soja com a saturação por base; entretanto, a produção de arroz não foi influenciada significativamente pelos tratamentos. Mas, com base de equação de regressão, as saturações por base adequadas para a produção dos três, foram estabelecidas em 53, 60 e 63% respectivamente, e, para a cultura de arroz, o nível adequado de saturação por base encontrado foi de 40%. A acumulação de nutrientes na parte aérea e nos grãos foi influenciada significativamente pelos tratamentos e pela idade da planta nas quatro culturas estudadas. Os níveis adequados das propriedades químicas do solo, como pH, teor de Ca, teor de Mg, relações Ca/Mg, Ca/K, Mg/K, saturações por Ca, Mg e K, foram estabelecidos para as culturas de arroz, feijão, milho e soja, cultivados em solo de cerrado.<br>A field experiments was conducted during four consecutive years (1995/96 to 1998/99) to evaluate responses of upland rice, dry bean, corn, and soybean grown in sequence to base saturation on a Dark Red Latosol (Oxisol). Mean base saturation levels determined after harvest of each crop were: 40, 44, 51, 53, 56, and 66%. Grain yield of dry bean, corn, and soybean were significantly affected with base saturation. Upland rice yield, however, was not influenced with base saturation treatments. Based on the quadratic response, optimum base saturation for maximum grain yield of dry bean was 53%, for corn 60% and for soybean 63%. For upland rice the base saturation under no lime treatment was 40%, which is considered adequate. Nutrient accumulation was significantly influenced by different base saturation treatments as well as by the age of the four crops. Adequate levels of soil chemical properties, such as pH, contents of Ca and Mg, ratio of Ca/Mg, ratio of Ca/K, ratio of Mg/K, Ca saturation, Mg saturation and K saturation were established for upland rice, dry bean, corn and soybean grown in cerrado soil