Above is a chart of the DBA — the agricultural ETF. Since late January, it has risen from a low of 24.4 to ~26.6 — an increase of about 9%. The primary reason is the driest growing season in Brazil in the last 60 years, which has effect both softs (coffee) and grains (soy beans).
The weekly chart places the move in a more historical context. Prices have been bottoming for most of 2013, Falling from a price spike in 2010-2011. Over the last few weeks, the weekly chart has printed some very strong price bars, moving prices through the 10, 20 and 50 day EMA. Also notice that the MACD and CMF are in a position to become far more bullish in their overall measurements.
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