Agriculture exchange traded funds have performed poorly in recent months but Teucrium Soybean Fund (NYSEArca: SOYB) has weathered the downturn better than most of the ETFs in the category.
Soybean traders will be closely watching a patent lawsuit that has gone all the way to the Supreme Court.
The court case poses the question whether 75-year-old Indiana farmer Vernon Hugh Bowman violated the patent rights held by Monsanto (NYSE: MON), which developed soybean and other seeds that survive when farmers spray their fields with the company’s Roundup brand weed-killer, the Associated Press reports.
Arguments in the case are taking place Tuesday, according to the report. [Soybean ETF: Supply Shortage]
SOYB is a relatively small ETF with $7.8 million in total net assets. The fund is designed to reflect the movement of soybean futures contracts.