To show how far emerging markets have fallen, and where they are headed for 2009, look no further than the theory of ‘decoupling’, says Irwin Greenstein, writing for Contrarian Profits.

Two of the top emerging markets are grappling with food production and costs – resulting in higher prices in the months to come. The outlook for China and Brazil could portend higher grain prices, giving investors a chance to cash in on a potential rebound.

Almost everything we use in modern society contains large amounts of raw materials. And they can’t be mined fast enough to keep pace with demand, especially from emerging markets. Lundin Mining Corp. (NYSE:LMC) is a strong Canadian mining company, with no debt and world-class assets. And it is a steal at today’s beaten down prices.

After China unveiled plans for a $586-billion stimulus package on Sunday, the media was abuzz that it could re-start the flagging commodities market. But it may be premature to peg all your hope on a single massive infrastructure build-out.