BUZZ-Agribiz ETF chart now shows more fertile prospects

** Market Vectors Agribusiness ETF rally turning more significant as it exits its bear-channel to the upside Chart: http://tmsnrt.rs/1R0zy0m

** Appeared that snap back off Jan 20 low was just an oversold reaction, but now thrust above near year-long resistance line suggests sustainable turn in trend

** Since Jan 20 lows, MOO mounting strong 15-pct rise putting it up 1 pct YTD; outperforming both S&P 500, down 2 pct, and S&P materials sector up 0.65 pct

** MOO strength underpinned by bull turns in number of beaten down fertilizer constituents including Mosaic, up 12 pct YTD, and Tyson Foods (NYSE: TSN - news) , a top-4 holding end-of-Feb, up 23-pct YTD, flirting with all-time highs

** Key commodities yet to move; grains as well as live cattle still depressed on multi-year basis

** Nevertheless, MOO channel breakout viewed as bullish, and MOO/SPX ratio penetration of resistance line will add credence to turn

** ETF can now challenge $49.35/$49.84 followed by $51.30 resistance, and through here can focus on levels in the high $50.00s again

** Reversing under $44.82, however, will suggest a failed breakout, and see MOO instead threaten sub-$40.00 levels

(Messaging: terence.gabriel.tr.com@reuters.net)