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Corn ETF (CORN) Hits 52-Week High

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For investors looking for momentum, Teucrium Corn ETF (CORN - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 46% from its 52-week low price of $11.52/share.

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

CORN in Focus

The CBOT Corn Futures Contract looks to reflect the daily changes of a weighted average of the closing prices for three futures contracts for corn that are traded on the CBOT. The expense ratio is 2.47% annually.

Why the Move?

U.S. corn supplies in September will be smaller than forecast earlier due to a reduced estimate of last fall's harvest, per the latest announcement of the U.S. Agriculture Department. The news of supply crunch boosted corn prices materially on Jan 12.

More Gains Ahead?

The fund has a positive weighted alpha of 28.65. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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