“Demand has been tepid, more so than people expected, particularly for the crude-oil market, which is awash in supply,” Aakash Doshi, an analyst at Citigroup Inc., said in the article. “On the grain side, we’re seeing very strong Northern Hemisphere supply. On metals, there are concerns about China.”
U.S. farmers are harvesting a bumper crop year, with record corn and soybean crops. The Teucrium Corn Fund (NYSEArca: CORN) and the Teucrium Soybean Fund (NYSEArca: SOYB) are off 25.5% and 16.1%, respectively, year-to-date. [Record Harvests Chase Investors From Agriculture ETPs]
Additionally, U.S. crude oil product is at its highest since 1986 as new hydraulic fracturing techniques help extract oil from shale beds. USO has dropped 11.5% over the past three-months and is down 2.6% year-to-date. [Taking A Bearish Approach to Oil ETFs]
For more information on ETF flows, visit our ETF performance reports category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own shares of GLD.