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Teucrium Corn ETF (CORN)

  • Feb. 25, 2011, 10:42 AM
    The carnage in the grain markets looks to have driven out at least a portion of the weak and speculative longs. A new base from which to rally, or the start of a bear market? JJG +0.8%. CORN +0.7%. AGU +2.2%. POT +3.7%.
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  • Feb. 23, 2011, 2:40 PM
    Pounded yesterday and down further this morning, the grains stage a reversal to close green for the day. Might they lead equities?  JJG +2.4%. CORN +3.3%. GRU +2.1%.
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  • Feb. 23, 2011, 9:14 AM
    Wheat took a beating yesterday and stands 17% below its peak of 2 weeks ago, but China may lend support to the market. China is a minor player in the global wheat trade, but the drought threatens to change that, at least for this year. Premarket: JJG -0.6%.
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  • Feb. 22, 2011, 2:36 PM
    Corn and soybean futures trade limit-down as commodities funds liquidate positions. While most industry insiders remain bullish, new supply from South America and the unknown of the USDA outlook later this week is pressuring the complex. CORN -5.3%. DBA -3.7%. DAG -9.3%.
  • Feb. 22, 2011, 11:21 AM
    Gold and oil catch bids, but traders are using the events in Libya as an excuse to sell commodity markets, many of which have had remarkable runs. The grains and cotton are particularly hard hit. CORN -3.6%. JJG -3.0%. BAL -4.1%. JJC -1.8%.
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  • Feb. 17, 2011, 12:47 PM
    Commodity bull Josh Brown thinks the agriculture story is getting somewhat crowded. He notes a recent paean to the group, well done, but the kind of story that gets written close to tops. JJA +1.7%. CORN +2.0%. BAL +6.2%. JO +1.8%. SGG -1.1%. JJG +1.3%.
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  • Feb. 16, 2011, 10:24 AM
    The value of irrigated farmland in the Kansas City Fed's district jumps nearly 15% in Q4 from a year earlier. One red flag: cash rental rates rise just 6%, making much of the 15% pop a speculative bet, and maybe a reason banks are tightening lending standards. Full report here.
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  • Feb. 14, 2011, 2:29 PM
    Carl Weinberg postulates Chinese hoarding of grain far beyond its needs is a major factor driving higher food prices. Weinberg believes China is concerned about the possibility of famine or social unrest, or perhaps they figure nearly $1T in Treasuries is enough.
  • Feb. 10, 2011, 11:12 AM
    As corn crosses $7/bushel, higher feed costs are likely to show up in the price of chicken within weeks followed by packaged goods shortly after, says a UI economist. A year or more can go by before pork and beef prices are affected. TSN -1.0%. CORN +0.9%. CAG -0.7%.
  • Feb. 10, 2011, 9:22 AM
    "Whenever you get the market as tight as we are now, hoarding becomes widespread," says an FAO economist as countries across the globe increase grain imports and/or place limits on exports. A chance that stockpiles can be replenished in 2011 is called into question by China's drought.
  • Feb. 9, 2011, 3:55 PM
    China issues a 10 point plan of subsidies and other farm support as it deals with soaring food prices, drought in its major wheat-growing region, and a general setback to plans to become self-sufficient in grains. A net exporter of corn just a few years ago, China imported 1.57M tons in 2010. JJG +1.9%. CORN +2.9%.
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  • Feb. 9, 2011, 1:09 PM
    Those hoping for a slowdown or reversal in food inflation won't find support from Syngenta's (SYT +4.4%) latest report. The crop protection and seed company lifts its outlook, seeing nothing to stop growing demand for grain as the world increases meat consumption.
  • Feb. 9, 2011, 9:38 AM
    March Corn prices look set to take out the $7 level after the USDA projects lower than expected ending stocks of 675M bushels, just 5% of expected usage - a level not seen since 1995. Premarket: CORN +2.43%. Full report here.
  • Feb. 8, 2011, 1:26 PM
    An epic drought in China's major wheat growing region catches the eye of the FAO which issues a rare alert over the issue. Not limited to crops, the FAO notes shortages of drinking water for both people and livestock. March wheat +1.6%. Grains ETF: JJG is flat.
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  • Feb. 4, 2011, 9:31 AM
    Goldman Sachs takes issue with Bernanke's insistence that easy money has anything to do with higher commodity prices. "By focusing on core inflation, (they) are exporting looser monetary policy to EM (and) forced to import higher food and energy prices."
  • Feb. 3, 2011, 12:41 PM
    The only kind of high prices most find acceptable are for stocks and real estate. Jim Rogers makes the case that high commodity prices are absolutely necessary to ensure continued supplies. "Are the politicians going to work 12 hour days in the field for nothing?"
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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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