I think so...and here is why I think so.
(Note: This is for longer term investors only. I may be a systematic short term mechanical trader who loves automated trading, but I do apply a different mindset here. )
- Fundamentals have not changed at all regardless of the global credit crisis / depression gloom and doom scenario. People still need to feed even regardless of what happens out there and agriculture stocks/futures have been beaten down as if they were banks!
- On the short term, it looks like the USD Index is turning back down again. Favouring oil/soft commodities as well as precious / base metals.
- Jim Rogers has started accumulating more commodities recently and said he would probably make more money from agriculture than gold. (http://jimrogers-investments.blogspot.com/). Do note that he is a crap short term market timer but almost flawless long term timer.
- Just check out some of the graphs below. (yes, I know bottom picking is pointless)
- And of course, there is no guarantee that it wouldn't fall further. Further forced liquidation or a resumption of the USD Index rally or massive deflation.