“We’ve seen corn at all-time highs and soybeans pressing against that level,” Patton added. “There’s no doubt the drought is detrimental to the market.”
Individual grain ETFs have saw heavy gains, notably the Teucrium Corn Fund (NYSEArca: CORN), which vaulted 32.4% over the past three months. The Teucrium Wheat Fund (NYSEArca: WEAT) jumped 20.3% and the Teucrium Soybean Fund ETF (NYSEArca: SOYB) increased 8.3% over the same period.
Market Vectors Agribusines ETF
For more information on the agriculture sector, visit our agriculture category.
Max Chen contributed to this article.