The Bloomberg Agriculture Index is quietly setting up for a major move.

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We’re approaching a long-term trendline that has held since the 2020 lows — and momentum is building.

Key levels to watch:
• First resistance: 95–100
• Macro breakout zone: 135–140 (cycle-level)

What’s interesting is the sequence:

Precious metals moved first.
Then industrial metals followed.
Energy came next.

Now it’s agriculture’s turn.

This rotation across commodities is not random — it’s how inflationary cycles typically unfold.

Seasonality also matters here.
Agriculture tends to peak in Q1 or early Q2, which aligns with a potential local top in early 2027 — right into that first resistance zone.

Pullbacks are likely, but the bigger picture is becoming clearer.

If we break higher, this isn’t just a trade — it’s a structural shift.

Do you expect rejection at 95–100, or continuation into a full cycle breakout?