We recently covered Teucrium’s largest ETF by asset size in this piece, CORN (Teucrium Corn Fund, Expense Ratio 2.75%), which has been on the move throughout the month of October on heavier than average trading volume, now trading at its highest levels since the late August/early September time period.
WEAT (Teucrium Wheat Fund, Expense Ratio 1.00%) has quietly raised more than $25 million this year via new creations, and average daily trading volume is more than 96,000 shares in the product.
WEAT actually dwarfs its next closest competitor in the “Wheat” sub-category within Agricultural based ETPs at the moment, WEET (iPath Pure Beta Grains ETN, Expense Ratio 0.75%), which has less than $1 million in
AUM.
It is entirely possible that potential Wheat ETP investors prefer WEAT to WEET because of the “ETF versus ETN” factor as well, as this is a dynamic that is quite noticeable and understandably so, among buy-side managers in the marketplace.
Notably, Wheat prices have basically taken a pounding in 2014, with WEAT down >20% year to date, in spite of a huge bounce in the short term throughout the month of October until this point. Briefly trading above $12 Friday morning, WEAT has regressed rather sharply off of these recent highs and seems to be seeing some static around its 50 day MA ($11.73).
It’s too early to call the bottom in Wheat prices but recent trading volume surges in the product have given new life to this previously forgotten fund which debuted just over three years ago.
Tecrium Wheat Fund
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