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A nasty drought in the U.S. has driven the price of corn and other agricultural commodities up the charts at a rampant rate this summer. Some of the hype has begun to fade, making prices somewhat more enticing to traders looking to enter the space on the long side. Here are four trades in particular that are beginning to look increasingly attractive in the sector.

Back on the Farm

One ETF for traders to consider at this point is the PowerShares DB Agriculture Fund (DBA). Even with the summer rally in corn prices the fund is barely in positive territory for the year. DBA is up 0.4% year-to-date.

Not only has the recent decline in corn prices made this fund more attractive to value oriented traders, the fund has a weighting of only 15.7% in corn. The rest of the fund is comprised of other agricultural commodities such as soybeans, cattle and cocoa. This balanced attack gives traders some risk protection in the unlikely event that corn prices continue their descent.

Market Vectors Agribusiness (MOO) is another suitable option for traders looking to enter the agriculture space all the while spreading out their risk. The fund holds approximately 50 names. MOO entered bullish territory last week when its 50-day moving average broke above its 200-day moving average.

Chemically Balanced

Shares of Mosaic Co (MOS) pulled back to the tune of 6.2% during the last five trading sessions. The drop makes for an intriguing entry point for a stock that has otherwise been on a technically sound course. The momentum that the stock has experienced this summer propelled the 50-day moving average above the 200-day moving average last month.

The crop nutrient company is slated to announce its fiscal Q1 results on Tuesday before the market open. Analysts are predicting EPS of $1.16 versus $1.17 in the prior year quarter. A beat here should be enough for investors to recoup any lost ground. This looks like a low risk trade ahead of earnings.

Another earnings trade in the agriculture space for traders to look at is Monsanto Company (MON). Prior to the opening bell on Wednesday of next week, the company will check in with its Q4 results. With revenue expected to be flat and a net loss $0.43 per share, expectations have been tepid. Monsanto has surprised to the upside in each of the last four quarters. This is another low risk trade where the company should be able to beat Wall Street estimates once again.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Business relationship disclosure: By Billy Fisher for Stock Traders Daily.

Source: Harvesting Profits In The Agriculture Space