Last week, Stephen Schork said that the seeds have been sown for an oil rally. That's, of course, a figure of speech. The sowing of real seeds, though, is driving the agricultural sector.

One of the sector's principal sowers is the Swiss agribusiness company Syngenta AG (NYSE: SYT). Syngenta develops and markets genetically engineered seeds and plants, among other crop protection products.

Syngenta is the big kahuna - it makes up 9.2% - of the index tracked by the Market Vectors Agribusiness ETF (NYSE Arca: MOO). And it shows. There's an 84% recent correlation between SYT's price movement and that of the ag ETF.

Market Vectors Agribusiness ETF (MOO) Vs. Syngenta AG (SYT)

Buy MOO and you get SYT. Lots and lots of SYT. Along with another seed producer, Monsanto Co. (NYSE: MON). Monsanto weighs in at 8.8% of the ETF portfolio with a 71% correlation.

Syngenta's price-to-sales ratio is less than half Monsanto's, which, given the Swiss company's strong fundamentals, seems to make a case for a game of catch-up. Unless, of course, Syngenta develops indigestion. The company's said to be interested in buying Dow Chemical's (NYSE: DOW) agricultural-science unit. Dow's agribusiness unit was one of the few bright spots on its balance sheet last year. Syngenta's recent price surge, in part, is built on anticipation of the deal. If another suitor comes along with a sweeter deal, investor disappointment could take some wind out of Syngenta's sails.