Crude oil’s masive one-day climb yesterday resurrected fears over the impact of soaring fuel costs on farming and food prices.

Other factors are at play in the volatile agricultural industry. According to Chris Mayer, “Fertile soil - good dirt - may become more important to land values than oil or minerals in the ground.”

Chris says fertile farmland has been in decline since the 1980s due to urban sprawl and soil erosion. This makes it a lucrative asset. And it makes companies like Cresud (NASDAQ:CRESY), which owns large swathes of farmland in Argentina, a great stock play.

Corn prices are down 36% from their June peak, but despite the U.S. government’s claims of a bumper corn crop this year, the current dip in corn prices is just a temporary abatement, as higher demand and a potentially smaller-than-estimated total crop are poised to push corn prices higher.

Editor’s Note: It seems energy is on the tip of everyone’s tongue again today. If it’s not the debate about where oil prices are heading next, it’s fresh concern over our long-term energy future. Byron King’s energy insider says we cannot lose anymore time in developing a plan for future power supplies. Whether its finding new oil reserves or shifting dependence to alternative sources, it will take decades to realise. Without a clear energy policy now, it will take longer. And by this time, it could be too late…