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Here is the big picture of the PowerShares DB Agriculture ETF (NYSE: DBA), which is an ETF comprising agricultural futures products such as corn, wheat, and soybeans. From what I have been reading and have been told, beans are looking at record low ending stocks, with prices poised to surge on any disruption, while corn and wheat are susceptible to dampness-related disease and lower yields later this summer. In other words, underlying what I think is a major base pattern on the enclosed chart are fundamentals that could propel prices considerably higher.
Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!
