Higher Food Prices Coming in 2013

I love looking at long-term charts because you can look at the trend that’s in place and see what is very likely coming in the future.
So what do I see for 2013? I see higher food prices. In other words, “food inflation” is on the rise.
How do I know? Let’s take a look at the weekly, three-year chart below of the Agriculture ETF (JJA).

The Next Round of Food Price Increases Starts Now

Let’s see what this chart tells us. First of all, the major lows and major highs continue upward. The price of JJA is also trading above major moving averages, which is bullish and shows that the uptrend is likely to continue.
In July, the moving average convergence divergence (MACD) came back up above its zero line and that’s also bullish for food prices. And now it looks to be curling up and getting ready to head higher once again.
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