Some of the most dramatic photographs in the world this week were of downtown Cedar Rapids, Iowa. On Friday, an estimated 100 blocks of the city were underwater. Heavy rainfall across the Midwest has produced nine rivers in Iowa above flood stage.
Corn stocks are expected to plunge to a 13-year low, according to the US Department of Agriculture, setting up a great play in a little-known livestock ETF.
MarketWatch reports that corn stocks are set to suffer because US farmers are cutting back corn acreage this spring to grow more soybeans.
Corn futures for July delivery today closed down 1 cent at $6.2925 a bushel. The contract had ended Thursday’s session at $6.3025 a bushel, an all-time high.
A livestock ETF may not sound like a sexy investment, but it may be a great way to profit from high grain and livestock prices.
AP reports that grain prices ended mixed last week on the Chicago Board of Trade. However, livestock prices rose, with beef and pork futures climbing on the Chicago Mercantile Exchange — a strong indicator that a livestock ETF may be a great way to cash in on the ongoing surge in food prices.
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