Teucrium Corn ETF

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  • Jun. 28, 2013, 1:00 PM

    Corn (CORN -3.9%) crumbles after the USDA estimates farmers planted 97.379M acres - the most since 1936 and far ahead of estimates for just 95.431M acres. The number of acres to be harvested, however, fell to 89.135M from 89.5M projected 2 weeks ago, and stocks of 2.764B bushels are below expectations of 2.845B. Bean (SOYB -0.5%) acreage is estimated at about an inline 77.28M acres - the most ever. DBA -1%.

    | Jun. 28, 2013, 1:00 PM | 10 Comments
  • Jun. 12, 2013, 12:19 PM

    Corn (CORN -1.8%) gives up early gains and turns sharply lower after the USDA estimates 2013/14 ending stocks of 151.8M tons, above the trade estimate of 149.6M. The USDA cut its yield projection by 1.5 bushels to 156.5 bushels/acre, but lower feed usage and no reduction in planted acreage (despite spring delays) has stocks higher. Tyson (TSN +0.9%) and Pilgrim's Pride (PPC +1.9%) cheer the news. The data was bearish for beans (SOYB -1.8%) as well. Grains ETF (JJG -1.3%).

    | Jun. 12, 2013, 12:19 PM
  • Jun. 3, 2013, 1:13 PM

    The price of corn sees little comfort from Morgan Stanley's estimate of planted acreage coming in at 93.5M acres, well below the USDA's 97.3M forecast. Wet weather has slowed fieldwork, says Morgan, also projecting production of 13.3B bushels vs. the USDA at 14.14B. That corn-planting got off to a slow start is hardly new news and the USDA will update planting figures later today. CORN -1.2%.

    | Jun. 3, 2013, 1:13 PM
  • May 21, 2013, 10:24 PM

    Don't say Goldman didn't warn you (I, II). Corn (CORN) prices fell Tuesday to multi-week lows after the Department of Agriculture reported a 43 percentage point increase from last week to this week in the amount of the corn crop planted, bringing the total to 71% compared to just 28% a week ago.

    | May 21, 2013, 10:24 PM
  • May 17, 2013, 11:01 AM

    Goldman's Tuesday bear call on agricultural commodities has implications for Deere (DE -2.7%) which gets a downgrade to Sell from Neutral. Analyst Jerry Revich says "recovering commodity inventories point to lower U.S. farm income and capex." As recently bearish Barron's notes (channeling Wells Fargo's Andrew Casey) "as goes the North American corn crop, so goes DE's stock price." For their part, GS says only a "major weather shock" could keep corn crop (CORN +0.1%) prices "near their current levels." Price target: $85 from $98.

    | May 17, 2013, 11:01 AM
  • May 15, 2013, 11:38 AM

    Agricultural commodity prices (DBA) could fall a big 13% over the next year, says Goldman, predicting bumper crops across the globe. With weak demand and a record South American harvest (CORN, SOYB, WEAT) already in the books, it would require a major weather shock in the U.S. to keep prices near current levels. Earlier: Deere tumbles as poor weather slows U.S. planting progress.

    | May 15, 2013, 11:38 AM
  • May 2, 2013, 3:09 PM

    Nearly everyone's a winner today as it's not just stocks lit up bright green. Oil (USO +3.3%), gold (GLD +0.5%), silver (SLV +0.7%), and corn (CORN +1.8%), are all flying. Even bonds (TLT), which tumbled on the big dip in jobless claims, have returned back to flat. Notably lower is natural gas (UNG -6.3%), tumbling on an unexpected add to inventories and as spring finally seems to arrive in the States.

    | May 2, 2013, 3:09 PM | 3 Comments
  • Apr. 8, 2013, 10:22 AM
    Speculators exited long commodity positions last week at the fastest pace since 2008, according to the CFTC. Of particular note is the quickest decline in agricultural holdings (DBA) ever, led by an exiting of corn (CORN) positions as the price dropped about $1/bushel.
    | Apr. 8, 2013, 10:22 AM
  • Apr. 1, 2013, 3:39 PM

    U.S. corn futures (CORN -2%) tumble 7% to a nine-month low in their biggest one-day decline in about four years, following a 5.4% drop on Thursday when the USDA reported higher-than-expected U.S. corn stockpiles. The two-day drop erases all the gains in corn futures since last June, when prices soared amid the worst U.S. drought in years.

    | Apr. 1, 2013, 3:39 PM
  • Mar. 28, 2013, 5:27 PM

    Corn futures (CORN -7%) tumbled to their biggest losses since May after the USDA's quarterly stock reports show higher than expected stockpiles and forecast farmers would plant the largest crop in 77 years. "This sets the undertone of lower prices over the next several quarters, unless unfavorable weather develops," a senior commodity analyst says.

    | Mar. 28, 2013, 5:27 PM | 2 Comments
  • Feb. 14, 2013, 10:28 AM

    Agricultural commodities continue an underreported slide, with J.C. Parets noting corn is down for the 10th consecutive session. Earlier this week, the USDA estimated farm income in 2013 will be the highest in 40 years thanks to high prices. A weak harvest has little impact thanks to the use of crop-insurance programs. DBA -5.2%, CORN -4.4% YTD.

    | Feb. 14, 2013, 10:28 AM | 2 Comments
  • Feb. 8, 2013, 3:40 PM

    Beans (SOYB -2.6%) tumble as stronger Brazilian production has the USDA upping its forecast for ending stockpiles by a greater-than-expected 1.1% to 60.1M tons. Estimated corn (CORN -0.5%) inventories are raised 5% to a 632M bushels, but it's not enough to send prices lower as the level remains the lowest in the U.S. since 1995.

    | Feb. 8, 2013, 3:40 PM
  • Jan. 27, 2013, 3:53 AM
    Corn inventories at the end of August, prior to the harvest, are forecast to be 873M bushels, 45% higher than the USDA's prediction, broker Allendale says at its annual  conference. "The demand is gone," due to the surge in prices caused by last year's drought. "The higher prices are leading to herd liquidation." Allendale forecasts that 2013 corn production will increase 30% to 14.03B bushels.
    | Jan. 27, 2013, 3:53 AM
  • Jan. 11, 2013, 12:13 PM

    The inaugural midday release of the USDA's January crop report doesn't disappoint, with corn reversing early losses and now sharply green as Dec. 1 stocks come in at 8.03B bushels vs. expectations of 8.21B. Ending stocks are estimated at a slim 602M bushels vs. expectations of 667M. Beans are down after production came in higher than expected. Wheat jumps on lower-than-anticipated planted acres.

    | Jan. 11, 2013, 12:13 PM
  • Jan. 3, 2013, 9:19 AM

    The grains continue a tough post-U.S. harvest run with news today of China cancelling another order - this one 11.6M bushels of American beans. In the meantime, better weather is improving prospects for South America's crops. Beans -1.1%, Corn -0.7%, Wheat -0.2%.

    | Jan. 3, 2013, 9:19 AM
  • Dec. 21, 2012, 11:59 AM

    Brazil’s government go-ahead for Petrobras (PBR -3.6%) to raise its gasoline prices in early 2013 likely will raise demand for domestically produced sugar-based ethanol, but effects also could reach U.S. shores. Ethanol output in the U.S. is expected fall ~10% next year, and a robust export market could give Brazilian mills even more incentive to produce ethanol instead of sugar.

    | Dec. 21, 2012, 11:59 AM | 4 Comments
CORN Description
The investment objective of the Fund is to have the daily changes in percentage terms of the Shares’ net asset value (“NAV”) reflect the daily changes in percentage terms of a weighted average of the closing settlement prices for three futures contracts for corn (“Corn Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”), specifically (1) the second-to-expire CBOT Corn Futures Contract, weighted 35%, (2) the third-to-expire CBOT Corn Futures Contract, weighted 30%, and (3) the CBOT Corn Futures Contract expiring in the December following the expiration month of the third-to-expire contract, weighted 35%, less the Fund’s expenses. (This weighted average of the three referenced Corn Futures Contracts is referred to herein as the “Benchmark,” and the three Corn Futures Contracts that at any given time make up the Benchmark are referred to herein as the “Benchmark Component Futures Contracts.
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