Corn ETF Surges: Behind a Blockbuster Friday
ETF Database submits: Thanks largely to continued weakness in the dollar, many investors in exchange-traded commodity products have realized huge gains in recent weeks. The sliding greenback, which is near record lows against many of its main rivals, has made commodities priced in dollars more affordable to international investors, which has in turn boosted prices. In addition, concerns over supplies in certain markets have added further upward pressure. While concerns about inflation and further quantitative easing have boosted gold to record highs, precious metals haven’t been the only resources on a hot streak; many agricultural commodities have been soaring as well over the past few weeks. While sugar and coffee both experienced amazing gains in Friday trading, their surges paled in comparison to the Teucrium Corn Fund (CORN). The fund surged by an unbelievable 14.6% on volume that was close to 10 times the average daily amount. The rally was driven by an escalation in supply concerns that have been building over the last month thanks to weak harvest predictions and the Russian wheat crisis that is beginning to strain the grain markets around the world [also read Inside Five Surging Commodity ETFs].Complete Story »
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