This Livestock ETF Is Set to Rise on Corn Stocks’ Historic Drop
May 16th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsCorn 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.