Teucrium Soybean Fund (SOYB) - NYSEARCA
  • 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
  • Nov. 12, 2012, 12:47 PM
    The grains get a downgrade from Goldman following Friday's USDA report raising harvest estimates. Acknowledging continued tight supplies of corn and wheat, Goldman says "risks of critically tight soybean inventories continue to fade quickly." The grains are off sharply today: CORN -3.1%, SOYB -2.8%, WEAT -1.6%.
    | Nov. 12, 2012, 12:47 PM
  • Oct. 19, 2012, 7:27 AM
    Wheat is catching a bid, the December contract +1.7% to $8.83/bushel on chatter the Ukraine is set to ban exports beginning Nov. 15. "Window dressing," says Tregg Cronin. "The market (is) already keeping them out of exports." Corn +1%, Beans +0.6%.
    | Oct. 19, 2012, 7:27 AM
  • Oct. 11, 2012, 9:16 AM
    Grains soar as the USDA lowers its estimate of corn ending stocks to 619M bushels from 733M in September. The cut comes even as it raises its forecast of harvested acres to 360K. What happens, asks Arlan Suderman, if the USDA is forced to cut harvested acres in its next report? Yikes. Corn +4%, Beans +2.1%, Wheat +1.5%.
    | Oct. 11, 2012, 9:16 AM | 2 Comments
  • Sep. 28, 2012, 8:56 AM

    Corn soars 3% as the USDA announces stocks at just 988M bushels, the low end of the expected range. Prior to the report, corn had tumbled about $1/bushel over the past month. Wheat stocks also came in low, suggesting greater-than-expected feed use for both grains. Bean stocks beat expectations after the USDA "finds" another 38M bushels from last year's crop. Wheat +2%, Beans flat.

    | Sep. 28, 2012, 8:56 AM | 1 Comment
  • Sep. 12, 2012, 9:15 AM
    More from the USDA: Soybeans gain +0.8% as the expected crop is cut 2% to 2.638B bushels vs. trade estimates of a 1% reduction. Ending stocks, however, remain at 115M bushels as the USDA cuts exports 55M bushels to 1.055B. Without the export reduction, ending stocks would have fallen to the frighteningly low level of 60M bushels. (full report, .pdf)
    | Sep. 12, 2012, 9:15 AM | 1 Comment
  • Sep. 12, 2012, 8:51 AM
    Corn tumbles 2% as the USDA lowers its expected crop yield and harvest only marginally from last month's estimates. Also lowered were expected exports - to 1.25B bushels from the already low figure of 1.3B. As a result, new crop ending stocks are now estimated at 733M bushels, up from 650M.
    | Sep. 12, 2012, 8:51 AM | 1 Comment
  • Aug. 24, 2012, 3:29 PM
    Pro Farmer estimates following this week's crop tour have corn yield at 120.25 bu/acre vs. the USDA estimate of 123.4. Beans 34.8 bu/acre vs. USDA at 36.1 ("The crop from Ohio to Nebraska needs a drink right now to realize these yield estimates"). Iowa (nation's largest producer): "Early start to the growing season turned into a mid-season nightmare for corn trying to pollinate." Market reaction will have to wait until Sunday night.
    | Aug. 24, 2012, 3:29 PM | 5 Comments
  • Aug. 21, 2012, 4:34 PM

    As panic hits the pits, Wells Fargo's Sameer Samana makes a contrarian call, arguing it's a good time to cover bullish grain bets. The weather is improving, he says, and low yields are priced in. "There seem to be fewer catalysts for price appreciation." Yet as Commerzbank notes, it's too late in the season for better weather to help the corn crop.

    | Aug. 21, 2012, 4:34 PM | 7 Comments
  • Aug. 21, 2012, 3:18 PM

    "For the first time in this rally, there is a feel of commercial panic," says a broker after a 2nd day of the Pro Farmer crop tour adds to worries over the security of physical grain supplies (day 1 report here). "You cannot load soybean futures in a ship and send to China (or) feed to chickens and hogs ... panic is in the physical ownership." Price records are falling everywhere. JJG +2.2%.

    | Aug. 21, 2012, 3:18 PM | 8 Comments
  • Aug. 20, 2012, 12:16 PM

    Grains rally as the Pro Farmer Midwest Crop Tour gets underway and early reports suggest the USDA's low estimated corn and bean yields could be optimistic. DTN's Katie Micik reports her Ohio route averaged 104.4 bu/acre (corn) vs. the USDA state estimate of 126. Pam Smith: "You know the corn is bad when you can see the scouts." CORN +1.4%, SOYB +1%.

    | Aug. 20, 2012, 12:16 PM | 5 Comments
  • Aug. 13, 2012, 4:32 PM

    China plans to release corn and rice from state reserves to cool inflation and ease import needs. The amount isn't yet known, but is estimated to be around 2M tons (the country consumes 10-15M tons monthly). The grains were sharply lower today as traders mostly sell Friday's news of a short crop. Corn -2.2%, Beans -3.1%, Wheat -3.2%.

    | Aug. 13, 2012, 4:32 PM | 1 Comment
  • Aug. 10, 2012, 8:53 AM

    More on the crop report: Corn yields in Iowa (the largest producer) are estimated at 141 bu/acre, notes Arlan Sunderman, while an industry tour had it at 117. He also spots the USDA upping China's corn production to 200 MMT from 195 last month, and dropping Chinese imports to 2 MMT from 5 MMT ... "but when has the USDA been right about Chinese imports."

    | Aug. 10, 2012, 8:53 AM | 5 Comments
  • Aug. 10, 2012, 4:16 AM

    A USDA survey of 27,000 farmers is today likely to show the depth of damage the drought has wrought, with the department expected to forecast that the 2012 corn harvest will slump 11% and that yields will be 23% below normal. The soybean harvest will probably fall 8% and yields 9%. At least most of the wheat crop has escaped the damage and production is seen exceeding 2011.

    | Aug. 10, 2012, 4:16 AM
  • Aug. 8, 2012, 6:15 PM

    “The drought should prompt a rethink of U.S. over-reliance on corn," William Moseley writes. "Farmers in the central plains used to grow a greater diversity of food and forage crops… But they gradually opted to grow more and more corn thanks to federal agricultural subsidies and expanding markets for corn in animal feed, corn syrup and ethanol."

    | Aug. 8, 2012, 6:15 PM | 3 Comments
  • Aug. 7, 2012, 8:38 AM
    The condition of U.S. corn and soybean crops continues to get worse as the drought drags on. According to the USDA, ~39% of soybeans were rated poor to very poor as of yesterday vs. 37% a week earlier, while 50% of corn got the lowest ratings vs. 48% a week earlier. 23% of corn was rated good or excellent, marking the ninth straight weekly decline in the longest slump since at least 1986.
    | Aug. 7, 2012, 8:38 AM | 4 Comments
SOYB Description
"The Teucrium Soybean Fund (NYSE: SOYB) provides investors unleveraged direct exposure to soybeans without the need for a futures account. The Teucrium Soybean Fund was also designed to reduce the effects of backwardation and contango. 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 soybeans (“Soybean Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”). The three Soybean Futures Contracts will be: (1) second-to-expire CBOT Soybean Futures Contract, weighted 35%, (2) the third-to-expire CBOT Soybean Futures Contract, weighted 30%, and (3) the CBOT Soybean Futures Contract expiring in the November following the expiration month of the third-to-expire contract, weighted 35%."
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