Commodity ETN is up 15% in 30 days….Higher food prices/inflation coming to a store near you?

CLICK ON CHART TO ENLARGE

Over the past 30 days, the Rogers Commodity ETN (RJA) has been white hot, gaining almost 15%. The impact of the summers heat, has pushed up many commodities, especially the grain complex.

Could Commodities have another month like the last one?

CLICK ON CHART TO ENLARGE

Bullish sentiment in the grain complex is very high right now (Wheat the highest at 78% bulls), due to the very sharp rallies of late and highly discussed hot weather in the mid-west. 

If traders can get together and break these key resistance levels in the 4-pack above, you can bet higher grain prices are in store, at your local stores!

Be Sociable, Share!

Comments are closed.