An exchange traded fund (ETF) that invests in corn futures has rallied this year but was fractionally lower early Monday following quarterly results from Corn Products International (NYSE: CPO).
Corn Products shares were up more than 2% after the corn processor reported first-quarter profit that blew away Wall Street forecasts.
Teucrium Corn Fund (NYSEArca: CORN) is up nearly 20% so far this year.
“A range of unrelated factors–from weather to government policies–have an impact on the price of corn. As a result, the change in the price of corn can be very volatile,” says Morningstar analyst Patricia Oey in a profile of the fund.