For investors seeking momentum, Teucrium Soybean Fund (SOYB Quick QuoteSOYB - Free Report) is probably on radar. The fund just hit a 52-week high and is up 41.7% from its 52-week low price of $20.67 per share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

SOYB in Focus

This underlying index looks to reflect the daily changes of a weighted average of the closing prices for three futures contracts for soybeans that are traded on the CBOT. The three contracts will be: 2nd-to-expire contract, 3rd-to-expire contract and the contract expiring in the November following the expiration month of the 3rd-to-expire contract. It charges a fee of 1.16% per year.

Why the Move?

U.S. soybean futures hit a record-high closing price and nearing an all-time intraday high, according to Dow Jones, due to strong export demand for U.S. supplies and the start of dry weather in the Corn Belt, as quoted on Seeking Alpha.

Soybeans for July delivery settled at $17.69 per bushel on the Chicago Board of Trade, a record-high closing price, after peaking at $17.84, the highest intraday price on a continuous basis for the most-active contract since September 2012, the Seeking Alpha article indicated.

More Gains Ahead?

Currently, SOYB has a Zacks ETF Rank #3 (Hold) with a High risk outlook.