"Jan. 10 (Bloomberg) -- Investor Jim Rogers, who co-founded the Quantum fund with George Soros in 1970, said agricultural futures, such as corn and soybeans, are the 'best investment targets' among commodities because they are undervalued. 'Soft commodities, such as corn, wheat, soybean and cotton, are still very, very cheap,' Rogers, 63, told Bloomberg News in an interview in Tokyo, where he was attending a symposium. Wheat, corn, cotton and soybeans have the largest weightings in the Rogers International Agriculture Commodity Index at a combined 54.44 percent, according to the website for the index. In the broader-based Rogers International Commodities Index, wheat is ranked second by weighting at 7.0 percent after crude oil. Corn is third at 4.75 percent. Crude oil, which has risen 39 percent in the past year, is still Rogers's top commodity pick, he said. The gap between wheat and crude oil, which has a 35 percent weighting in his commodity index, will remain unchanged for now, Rogers said. `Whether we like it or now, crude oil is the single most important commodity in the world by a factor of many times,' he said. `You produce wheat with crude oil.'
