Seeking Alpha
Editor's notes: Brazilian farm operator SLC Agricola stands out with its operational efficiency and valuable land portfolio. The volatile and illiquid shares are 25-40% undervalued.

It isn't easy running a farm nor, by extension, a farming business. Couple that with extensive year-to-year volatility, and that may well be why there are no publicly-traded U.S. farming companies - forcing investors to make do with input companies like Mosaic (MOS), DuPont (DD), and Deere (DE) or crop/commodity-specific ETFs. That's really too bad, though, because for all of the year-to-year risk and volatility in farming, the long-term potential of land value appreciation can be considerable.

That makes Brazil an interesting opportunity. Unlike the U.S., there are multiple publicly-traded farm operators in Brazil, including Adecoagro (AGRO), Brasilagro (LND), Cresud (CRESY) (which...

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