Teucrium Corn Fund (NYSEArca: CORN) has vaulted 35% the past four weeks as a heat wave and drought continue to punish crops in the Midwest.
Corn futures hit another record on Thursday above $8 a bushel.
The U.S. is suffering through its worst drought in over 50 years. [Agriculture ETFs May Rally More on Drought]
“Prices have soared in the past month as hot temperatures and a lack of rain have withered the nation’s corn crop, leading analysts to sharply cut their forecasts of what was once expected to be a record large crop,” Dow Jones Newswires repors.
Soybean prices have also jumped to all-time highs. [Corn, Grains ETFs in Huge Breakout]