Agriculture commodities had been in a downtrend from the start of the year through the end of the second quarter. In July, however, ag made a big comeback and made up a significant part of its 2010 losses. Below is a chart (click to enlarge) of the PowerShares Deutsche Bank Agriculture ETF (DBA). As shown, the ETF moved well above extreme overbought territory (the red zone) this week.
Source: Ag Rallies