What’s Gotten Into The Corn ETF?

Investors checking in on the Teucrium Corn Fund (CORN) yesterday may have been suspicious that another market malfunction was generating bizarre ticker readings. But Wednesday’s performance was no joke; the 8% surge came after commodity traders were shocked yesterday by a U.S. Department of Agriculture report that showed a surprisingly lower corn crop as well as sharply lower corn inventories. This news sent corn prices surging higher by more than 8% on the day as futures came within one cent of triggering a circuit breaker designed to halt markets when there is an excessively large price swing in one day. This sharp uptick came after the report showed one million fewer acres of corn planted this year, as well as 300 million fewer bushels of corn in storage. ”The stocks report is a game-changer because it means there cannot be any weather problems that reduce yields,” said Chip Flory, at [...] Click here to read the original article on ETFdb.com. Related Stories: First The CORN ETF, Now Five More Funds Ready Or Not, Here Comes A Corn ETF Inside The Corn ETF (CORN)