Not even food is immune from this devastating bear market.  Despite this, I continue to think that food related investments (specifically ag plays) are some of the best long-term trends in the market.  We have seen unprecedented declines across the board in terms of earnings, but ag is one of the few industries with earnings power.  It’s also one of the few industries where M&A is still breathing life.  CF Industries just rejected Agrium’s increased bid.   The long-term strength of the sector is still very good despite this recent decline in food demand.  More here: