The USDA came out with inventory numbers and it sees corn ending stocks unchanged from last month at 810M bushels. The Teucrium Corn ETF ($CORN) had risen the last week as investors felt the stocks would fall; the ETF is down nearly 1% in early trading.
The estimates for soybeans and wheat both fell, which could be a boost to the prices of the two commodities. However early trading is mixed on the ETFs that trade the ags.
Teucrium Soybean ETF ($SOYB) is up slightly and has rallied 20% in the last few months as the Teucrium Wheat ETF ($WEAT) is down slightly.
The more widely followed iPath Grains ETN ($JJG) is down 0.5% on the news, however long-term the ETN and grains sector is one to watch and is on the PFG WishList.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
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