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Teucrium Soybean Fund (SOYB)

  • 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 | Comment!
  • 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
  • Aug. 6, 2012, 10:57 AM
    Rains over the weekend and more forecast for this week are helping send the grains lower. Much of the damaged corn crop is beyond repair, but beans should see a benefit from the water and cooler temperatures. New crop corn -1.4%, New crop beans -2.6%.
    | Aug. 6, 2012, 10:57 AM | 2 Comments
  • Jul. 30, 2012, 8:18 AM
    Grain futures rally sharply following their first week of decline since early summer as a little bit of rain fails to stem reports of crop damage. While soybeans could still be saved by decent rainfall, a good portion of the U.S. corn crop is past the pollination stage and beyond repair. Sept. Corn +2.7% to $819/bushel, Sept. Beans +2.3%, Sept. Wheat +2%.
    | Jul. 30, 2012, 8:18 AM | 1 Comment
  • 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 | Comment!
  • 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
  • May 29, 2012, 8:31 AM
    Agricultural commodities are mostly up this morning, with the notable exception of wheat futures, which are -1.3% as rainfall in key grain-growing regions in Russia and Australia eased concerns over a possible disruption to global supplies. Soybean futures +0.7% on adverse weather conditions in the U.S. Midwest and Great Plains-region.
    | May 29, 2012, 8:31 AM | Comment!
SOYB vs. ETF Alternatives
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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