Corn Commodity Drops Today

Teucrium Corn (CORN)

The Teucrium Corn Fund (CORN), traded down today almost 9% (down $3.87) to close at $40.50. The ETF traded as low as $24 about 1 year ago, and as high as $48.77 as recently as 3 weeks ago. Grains and corn traded lower due to reports from U.S. Department of Agriculture showing more planting of corn occurred in the spring with higher inventories (12% higher than expected).

U.S. cattle and hog futures closed sharply lower in deferred months on Thursday as a bigger-than-expected corn crop may lower feed prices, boost cattle and hog supplies and drive down livestock prices … the U.S. Agriculture Department shocked investors, reporting higher U.S. corn acreage and more corn in storage. – Reuters