Monsanto (MON) continues to impress today, clearing $76... and the fertilizer stocks are showing the first signs of life in a few quarters. (but still mostly have bad charts) It appears wheat it rallying circa 2008. [Feb 12, 2008: Wheat is Being Ruined by ... what else... Hedge Funds and Speculators]
If interested the easiest way to get some exposure is either Powershares DB Agriculture Fund (DBA) or iPath DJ Grains ETF (JJG) [whew, it has been ages since we've mentioned those ETFs] but neither is a pure play - they mix in things like corn, sugar, etc.
- Before today, wheat surged 24% this month, rising 11% in the previous three sessions alone on reports that a drought in Russia, the fourth-biggest exporter of the grain, will curb production. Investors may be selling on concern that rain may fall this weekend in Russia and the European Union, which also has been parched.