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Sal Gilbertie freely admits that soybeans and wheat have far less sex appeal with many investors than cryptocurrency.
“People don t think about the things they take for granted, like your food,” said Gilbertie, founder and president of Burlington, Vermont-headquartered Teucrium Trading, an exchange-traded fund provider involved in agriculture-based commodities.
Nonetheless, a combination of tumultuous circumstances over the last year has been lucrative for Gilbertie’s funds.
“We have $370 million under management,” he told Benzinga. “Last year, we had about $170 million. Money has been pouring into our funds.”
Going With The Grain: Gilbertie launched his company after the 2007-2009 financial crisis when he realized there was no agricultural ETF focused on a single commodity. He began focusing on corn with the
Food For Thought: Teucrium Trading s Sal Gilbertie Focuses On Agriculture ETFs
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The market reacted negatively, initially, then finished mostly higher. By
3/9/2021 The USDA leaves its crop ending stocks numbers mostly unchanged; the market takes it as a negative report. On Tuesday, the USDA released its March Supply/Demand Report. As a result, the CME Group’s farm markets mostly dropped. Soybeans fell 6¢, corn down 4¢, and wheat up 4¢. At the close, the May corn futures finished 1 1/4¢ lower at $5.46 1/2. July corn futures settled 1 1/4¢ lower at $5.34 3/4. New crop December corn futures closed 3 1/4¢ higher at $4.84 1/2. May soybean futures closed 6 1/4¢ higher at $14.40 1/2. July soybean futures closed 7 3/4¢ higher at $14.26 3/4. New crop November soybean futures closed 7 3/4¢ higher at $12.62 1/4.