Investors seeking momentum may have Teucrium Soybean Fund (SOYB Quick QuoteSOYB - Free Report)  on radar now. The fund recently hit a new 52-week high. Shares of SOYB are up approximately 39.8% from their 52-week low of $13.27/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of 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. The expense ratio is 2.50% (see all Agricultural ETFs here).

Why the move?

Soybean prices gained lately on weather concerns (which resulted in supply worries) and upbeat demand. This has probably acted as a tailwind for the product.

More Gains Ahead?

The fund has a positive weighted alpha of 29.50. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further. However, some weather concerns may be priced in at the current level, which might restrict potential upside.

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