It’s raining in Chicago today, and traders at the CBOT are behaving like it’s raining everywhere that corn is growing.From a high of well over $6.50/bushel on Wednesday, corn prices have moderated to around $6.30/bushel today.
A quick look at the weather map still shows no rain and temperatures well into the 90s throughout the corn-growing middle of the country. At least some commodities traders believe that the effect of the weather on corn prices has been mostly factored in by now, and no big surprises remain.
Commodities traders are looking at soybeans as the potential big money-maker of the year though. The South American harvest was poor, US stockpiles are low, and demand for exports is likely to rise.
The Teucrium Corn ETF (NYSEMKT: CORN) is up more than 18% since a recent low on June 15th of $35.47. The fund trades at $42.26 currently in a 52-week range of $35.23-$50.69.
The very lightly traded Teucrium Soybean ETF (NYSEMKT: SOYB) is up just 6% in June, roughly equal to the rise in the commodity price from around $4/bushel to $4.22/bushel.
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
