Market Vectors Agribusiness ETF Up 2.7% on Tuesday (MOO; DBA; POT; SYT)

From Barron's Focus on Funds blog:

MOO Climbs As Temperatures Set To Soar; Syngenta, Potash Jump 4%

Corn and soybean prices jumped the most in some two weeks, sending agriculture ETFs closer to recent highs.

The Market Vectors Agribusiness ETF (MOO) gained 2.7%, or $1.38, to $52.29 a share. That’s about 5% from its May high-water mark. From mid-February through last week, shares of MOO had lost roughly 10%.

The futures-tracking PowerShares DB Agriculture ETF (DBA) rose 1.4% on Tuesday....MORE

Ignoring the weather related bullishness* has served us well in wheat but the psychology seems to be changing.
Long corn should work as a play on perception and possibly on acually declining yields.
Corn is down 5 1/2 cents at $6.7475 Wheat is down 10 at $6.9525.

*JUNE 6 
Bloomberg Analyst Survey: "Wheat Rallying 20% as Parched Fields Wilt From China to Kansas"

Chicago wheat is trading at $7.62, down 11 3/4 cents.
Be careful on this one, see stories below the jump.

June 16 
GRAINS-U.S. corn, wheat slide deeper on crop weather (DBA; MOO; WEAT)

Corn is down 8 cents at $6.58, wheat's down 8 1/4 at $7.31.

Here's today's Bloomberg's opener:
Corn Rises Most in a Week as Hot Weather May Hurt U.S. Crop; Soybeans Gain