Above are two ETFs that track some very important commodities. The top chart tracks copper. Notice it is nearing a two year low and has fallen sharply in the near term. In contrast is the grains ETF -- JJG. It's currently trading in a downward sloping pennant pattern. And while prices have dropped, they have not done so in nearly the same manner as copper. Consider that that (the JJGs) in relation to this chart of food inflation:
While copper's fall should have a depressing effect on manufacturing inputs, the above 2 charts indicate we probably won't see the same effect in food prices.
