Moreover, Gunzberg points out that this is a seasonally good time for the commodities market.
“There has, historically, been a price increase in late summer, early fall—August, September, October, sometimes even a little bit into early November. Commodities are a little bit cyclical,” Gunzberg added.
Meanwhile, Jim Iuorio of TJM Institutional Services suggests that it is a good time to look at agricultural commodities.
“I do think that the exceptional weather is probably fully priced in and it looks like prices, particularly in wheat, have bottomed,” Iuorio said.
Year-to-date, the iPath Grains Total Return Sub-Index ETN (NYSEArca: JJG), which tracks 33.4% soybeans, 20.8% wheat and 45.8% corn, has declined 11.5%, Teucrium Corn Fund (NYSEArca: CORN) fell 16.3% and Teucrium Wheat Fund (NYSEArca: WEAT) decreased 13.5%.
For more information on the commodities market, visit our commodity ETFs category.