Not a farmer but corn could be ready to pick here. MMHVW - so apparently the adverse flooding and wet weather hitting certain parts of USA at the moment will have a negative impact on corn as the lands over waterlogged and therefore nothing is grow at the moment. Could see a break out from this descending wedge soon.
ETFS Corn is designed to enable investors to gain an exposure to a total return investment in corn by tracking the Bloomberg Corn Subindex (the "Index") and providing a collateral yield. The product reflects the performance of the Index such that, for example, if the Index were to rise in value by 5% over a period, the product would increase in value by 5% over that same period (before fees, expenses and adjustments) and if the Index were to fall in value by 5% over a period, the product would fall in value by 5% over that same period (before fees, expenses and adjustments). The product is an exchange traded product ("ETP"). Securities in this ETP are structured as debt securities and not as shares (equity). They are traded on exchange just like shares in a company. The ETP is backed by swaps with Citigroup Global Markets Limited and Merrill Lynch International. The payment obligations of the swap counterparties to the Issuer are protected by collateral held in a segregated account at an independent custodian, The Bank of New York Mellon.
Again - this should not be taken as financial advice.
