We began a special Alert series last week called, “My Top Seven ETFs for 2011.” Each week, I’ll be reporting about the exchange-traded funds (ETFs) that I think are best positioned to perform well in the coming year. Part I in our series featured the SPDR S&P Oil & Gas Exploration (XOP). That ETF is likely to outperform as long as oil prices remain high.

This week’s top ETF also is tied to the commodity space, but this time, the commodity is not what you put in your car’s tank, but rather what you put in your body’s tank. It’s the Market Vectors Agribusiness ETF (MOO).

This agricultural stock ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the DAXglobal Agribusiness index. That index includes some of the biggest corporate names in the agriculture and food production industries. Standout firms such as Potash Corp of Saskatchewan (POT), Monsanto (MON), Deere & Co (DE) and Archer-Daniels-Midland (ADM) are a few of the top companies in MOO.

As commodity food prices rise, the fortunes of stocks in MOO also are likely to rise. That makes MOO a great ETF to put on your watch list for 2011. It also makes this fund one of my top seven ETFs for 2011.