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Corn ETF Pops Drought-Driven Shortage
Posted on July 09, 2012 at 15:06 PM EDT
Traders devoured the corn exchange traded fund at a rapid clip Monday as the U.S. corn belt faces the worst drought in nearly two decades spurred by heat wave gripping much of the country. Teucrium Corn Fund (CORN) gapped up 5% in nearly five times average volume to a nine-month high of 47.64. It has rallied an astounding 34% in the past four weeks. Weather forecasts call for below-average chances for rain to relieve dry conditions plaguing nearly
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