Warm Weather Forecast Drives Corn, Wheat Higher
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Adverse weather conditions are creating a better market for PowerShares DB Agriculture Fund (NYSE: DBA). The ETF, which invests in soft commodities, is higher by 2 percent intra-day on Monday. The move higher is fueled by a huge rally in agriculture futures prices today, lead by corn. The spike in corn comes as forecasts call for warmer weather in the U.S. which could damage crops and reduce yields.
Teucrium Corn Fund (NYSE: CORN) and Teucrium Wheat Fund (NYSE: WEAT) are several commodity ETFs that have moved higher today.
Teucrium Corn Fund (NYSE: CORN) and Teucrium Wheat Fund (NYSE: WEAT) are several commodity ETFs that have moved higher today.
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