By Doug Busch
Soft commodities have begun to show signs of renewed strength after a relatively quiet stretch, with key grains like corn and wheat starting to stabilize as investors rotate into lagging areas of the commodity complex.
The Invesco DB Agriculture Fund $(DBA)$, a broad basket of agricultural futures including grains and livestock, has reflected this shift, recently pushing higher as underlying markets improve.
With roughly half its exposure tied to grains and oilseeds, the fund is well positioned to benefit if the early signs of a broader agricultural rebound continue to build momentum.
Lets look at two grain ETFs that look interesting here.
The Teucrium Corn Fund (CORN), while lower by 2% over the last one year, has gained some momentum up 5% over the last one-month period. The ETF has been higher eight of the last nine weeks, with all nine weeks closing near the top of the weekly range suggesting accumulation. On its monthly chart it advanced 19 of 24 months between May 2020 and April 2022, when a bearish evening star ended its run at the round $30 number after a 163% advance.
Looking at its daily chart one can see the recent break above a bullish ascending triangle pivot of $18.30 on March 6, followed by the carving out of a bull flag. Notice that at the top of the pattern, two bearish candles, a shooting star and an engulfing pattern acted as resistance on July 3 and Nov. 14. Other encouraging developments include a bullish golden cross with the 50 day simple moving average crossing above the 200 day simple moving average earlier this month, and the strong uptrend for corn on the ratio chart against the Invesco DB Agriculture Fund since last September. Look for the fund to gravitate toward $25 by year end, a 35% gain from current prices. Remain bullish above $18.
The Teucrium Corn Fund was trading around $18.45 Tuesday.
The Teucrium Wheat Fund (WEAT), which is slightly more volatile than CORN, is down 6% over the last one year but higher by 14% year to date. It is coming off its first consecutive weekly losses since last December, however its monthly chart recorded powerful bullish engulfing candles off the very round $20 number last October and this January.
A closer look at its weekly chart shows that it decisively broke above its 50 week simple moving average, which is now starting to flatline, in late February. Notice how persistent the resistance has been, with pushbacks in October 2024, February 2025, and again last June.
The fund broke above a bullish falling wedge at $20 in the fourth quarter last year. That level held after being retested from mid-December through late January, which is a good sign that a bottoming process is under way. I think this can trade toward $28 in the second half, which would be a 23% gain from current prices and touch the bearish evening star completed in June 2024. Remain bullish above $21.25.
The Teucrium Wheat Fund was trading around $22.50 Tuesday.
Doug Busch is the senior technical analyst at Barron's Investor Circle . His technical view is added to stock picks, including those published exclusively for Investor Circle readers. A glossary of technical terms is updated regularly with new entries.
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 24, 2026 13:40 ET (17:40 GMT)
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