The morning of May 12th was that of much enjoyment and intrigue. The group began the day, after a filling breakfast, with chestnut tree planting at the Stolee family farm. Before arrival, I found it somewhat shocking to be planting chestnuts tree as one of our first of many projects in Iowa pursuant to my predetermined expectation that farmers only grow crops like wheat, corn, or soy. However, Heath Stolee corrected my naive opinion. He explained that chestnut tree planting is not a usual activity farmers participate in but not at all shocking. Moreover, his reasons for planting chestnuts as a revenue source occurred upon accident, thinking it would attract deer. Consequently he rationalized, based on market prices on chestnuts, that he could earn a greater profit from chestnuts than that of other crops or produce. As we all know from the most basic lessons of economics, is that price is the centripetal result of supply and demand. Both act as adjacent variables to which a concurring price can be set balancing consumer cost with producer profit. Aware that the price of chestnut trees for planting was significantly higher than his expectations, it proffered a seemingly valid signal that chestnut productions could offer substantial profits.

With all taken into consideration, the group proceeded in tree planting, which turned out to be more fun than tiresome. I believe, if my memory accurately suffices, Heath planned to plant over 500 trees on the Stolee farm. Within a few hours, we were able to achieve a substantive one-fifth of the project, planting slightly over 80 trees.

Undoubtedly, Heath would have a definite supply of chestnuts. However, the question of inquiry was upon the limits of demand as chestnuts are not a commodity often purchased locally or even in the U.S. nationwide. Heath inquired that chestnuts, despite its value locally, is a produce often used by foreign countries such as Asia and parts of the Middle East. This is where most revenue comes from. Notwithstanding the high profits chestnuts have to offer, Heath mentioned that he doesn’t receive much of a profit till a few years antecedent to production.