Down on the Farm

My piece on adult beverages earlier this week prompted calls to analyze some of the ingredients that go into the manufacture of beer. While I don't want to go down the path of parsing the ingredients of any product on such a micro level, as it may lead to the analysis of investments that are thinly traded or of little general interest, I can tell you that more broadly, the general agriculture sector has some very interesting charts on display right now.

Some of the broader agriculture ETFs and ETNs are looking weak right now and are on the verge of a possible break lower. For example, the Rogers International Commodity Agriculture ETN (RJA) is clearly in a downtrend, and has been since it peaked in March. Since that peak, this ETN has lost about 25% of its value and formed a series of lower highs and lower lows, culminating in yesterday's close at $8.94. That represents a new year-to-date closing low for the ETN, which is heavily concentrated in wheat, corn, cotton and soybeans....361 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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