The Teucrium Corn Fund has begun trading on the NYSE Arca.
The investment objective of the fund is to have the daily changes in percentage terms of the shares’ net asset value reflect the daily changes in percentage terms of a weighted average of the closing settlement prices for three futures contracts for corn that are traded on the Chicago Board of Trade.
These are the second-to-expire CBOT corn futures contract, weighted 35 per cent; the third-to-expire CBOT corn futures contract, weighted 30 per cent; and the CBOT corn futures contract expiring in the December following the expiration month of the third-to-expire contract, weighted 35 per cent, less the fund’s expenses.
Corn is the most widely produced feed grain in the US, accounting for more than 90 per cent of total value and production of feed grains.
The fund pays management fees at an annual rate of 1.00 per cent of its average net assets, brokerage charges of approximately 0.06 per cent, over-the-counter spreads and various other expenses of its ongoing operations, resulting in a total estimated expense ratio of approximately 1.71 per cent of net assets.