Weather-related catalysts for agriculture commodities are currently plentiful. Dry conditions in Australia could pressure the country’s high protein wheat output as El Niño brings below-average winter and spring rainfall.
Additionally, while China usually dodges the brunt of the damage, dry weather could affect the country’s corn crops, according to Ma Wenfeng, analyst at Beijing Orient Agri-business Consultant Co. [Ag Commodity ETFs Surge]
Teucrium Wheat Fund
Chart Courtesy: Kimble Charting Solutions