Teucrium Corn ETF

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  • Jul. 16, 2012, 12:13 PM

    If prices for corn (CORN +3%) are rising and demand is falling, why are BioFuel Energy (BIOF +25%) and Pacific Ethanol (PEIX +11.8%) enjoying such big spikes today? Production closures appear to have taken enough ethanol off the market to support rising costs of corn and put some profit back into ethanol makers, 24/7's Paul Ausick writes.

    | Jul. 16, 2012, 12:13 PM | 3 Comments
  • Jul. 12, 2012, 1:01 PM

    The latest U.S. Drought Monitor isn't pretty, showing substantial declines in "abnormally dry" and "drought-moderate" areas and a commensurate jump in those areas labeled "drought-severe" and "drought extreme," with "drought exceptional" creeping in as well. Corn rebounds from yesterday's sell the news action following the USDA report, +3.9%.

    | Jul. 12, 2012, 1:01 PM | 3 Comments
  • Jul. 12, 2012, 12:23 PM

    In response to the USDA's reduced corn crop forecast, Barclays is raising its price forecasts for corn, soy, wheat, and other soft commodities. That's helping some agriculture ETFs rally on a down day. CORN +2.8%. WEAT +2.1%. SOYB +0.8%. JJG +2%. GRU +2.1%. JJA +1%.

    | Jul. 12, 2012, 12:23 PM
  • Jul. 11, 2012, 12:01 PM
    Report buyers get burned as corn moves 1.3% lower on the day, a full $0.40 off the level hit in the minutes after the USDA confirmed what everyone has known for weeks - the harsh weather is hurting the crop. Beans and wheat remain higher, but also sharply off post-report levels.
    | Jul. 11, 2012, 12:01 PM | 12 Comments
  • Jul. 11, 2012, 8:48 AM
    Not totally unexpectedly, the USDA lowers its corn forecast 12% to 12.97B Bushels; the projected yield is cut 20 bushels/acre to 146 bushels, "reflecting the rapid decline in crop conditions since early June and the latest weather data." Corn prices surge in response.
    | Jul. 11, 2012, 8:48 AM
  • Jul. 10, 2012, 6:38 AM

    Corn futures for July delivery climbed 4% to $7.7525 a bushel yesterday, increasing the drought-induced surge of the last three weeks to 29% and bringing the price close to the all-time record of $7.9975. With little rainfall expected in the corn belt in the next two weeks, the gains could continue and soon start affecting food prices.

    | Jul. 10, 2012, 6:38 AM
  • Jul. 9, 2012, 10:34 AM
    Grains soar again as the heat wave breaks, but one forecaster says coming rain is expected to miss the areas most in need. The USDA's crop report for later today is expected to confirm deterioration of the crops. CORN +5.5%, JJG +4.8%, DBA +2.3%.
    | Jul. 9, 2012, 10:34 AM
  • Jul. 9, 2012, 5:36 AM

    The USDA might cut its outlook for corn inventories on Wednesday due to the worst drought since 1988 and record global demand. Economists forecast stockpiles on Sept. 1, 2013, at 1.22B bushels, 35% below the USDA's prediction in June. However, 2012 production is still expected to rise 9.7% after farmers sowed the most acres since 1937, while the slowing global economy could halt the rally in prices.

    | Jul. 9, 2012, 5:36 AM | 1 Comment
  • Jul. 5, 2012, 5:35 PM

    Hot, dry weather isn't only plaguing midwestern farmers, as drought conditions also have hit areas in Russia and around the Black Sea, prompting reductions in grain forecasts. Yet food prices have been falling in recent months, and analysts such as Cowen's Colin Guheen expect “benign” inflation in 2012-13; he says the risk is not great for select food companies such as SFD and SWY.

    | Jul. 5, 2012, 5:35 PM | 1 Comment
  • Jul. 5, 2012, 11:19 AM
    It's always a good idea to check the grains after July 4, and they're soaring again as no relief is in sight from the heat and drought. Adding fuel is the Ukraine, which lowered its corn crop estimate by 8% due to its own weather issues. A couple of headlines for the contrarians: "Corn is shining like gold," and "New dust bowl days on the horizon." CORN +2.5%, JJG +2.7%.
    | Jul. 5, 2012, 11:19 AM | 2 Comments
  • Jun. 29, 2012, 12:49 PM
    "Sell, Mortimer sell!" It's raining on LaSalle Street. Corn gives up big early gains as rain hits the home of the CBOT - a possible break in the brutal drought covering a good portion of the Midwest. CORN +16.8% this month.
    | Jun. 29, 2012, 12:49 PM | 3 Comments
  • Jun. 29, 2012, 10:39 AM
    2012 corn planted is estimated at 96.4M acres, says the USDA, +5% Y/Y and the highest planted acreage since 1937. Soybeans are estimated at 76.1M acres, the 3rd highest on record. Though both figures are higher than trade expectations, planted acres are not the same as harvested acres, and the drought continues. Corn and beans are sharply higher in early trade.
    | Jun. 29, 2012, 10:39 AM
  • Jun. 28, 2012, 3:13 PM

    Rising U.S. corn prices in the face of a Midwest drought have forced Valero Energy (VLO) to shut two of its 10 ethanol plants, each with the capacity to produce 120M gallons of ethanol per year. Rabobank analysts predict corn prices could rise another 25% by year's end on lower yields due to the weather, pushing prices near the all-time high of $7.99/bushel.

    | Jun. 28, 2012, 3:13 PM | 1 Comment
  • Jun. 28, 2012, 2:50 PM
    Corn takes a breather from its big June run (up 27%), but a once-in-a-generation drought continues to bear down on the Midwest. A drought map shows the brutal conditions - originally centered on Indiana - making their way into Illinois and even Iowa.
    | Jun. 28, 2012, 2:50 PM | 2 Comments
  • Jun. 26, 2012, 10:29 AM
    Fertilizer stocks advance for a second day after the price of new corn rises to its highest since November on the government's report of greater than expected damage to corn crops. Also providing a lift is a Macquarie note that fertilizer companies should be able to significantly increase their dividends. AGU +1.5%, MOS +4%, POT +4%, CF +3.4%.
    | Jun. 26, 2012, 10:29 AM
  • Jun. 25, 2012, 8:58 AM

    Dahlman Rose raises its outlook on fertilizer shares, believing they largely reflect the valuation eroding impact of a large crop; given that backdrop, the firm sees only two possible outcomes, both of which point to higher share prices. It upgrades CF and POT to Buy from Sell, AGU, RNF and MOS to Buy from Hold, and IPI and UAN to Hold from Sell.

    | Jun. 25, 2012, 8:58 AM | 2 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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