With the market probably looking for a reason for a correction, this Iceland volcano might be the catalyst. Airlines for sure are losing much revenue and other sectors have to be affected also. A CNN.com headline says, "Volcano chaos 'to push into mid-week' ".
The iPath Dow Jones-UBS Grains Total Return ETN (JJG) gives corn a weighting of nearly 36%, while the ELEMENTS MLCX Grain ETN (GRU) gives an allocation of about 27%. Both JJG and GRU are structured as exchange-traded notes, meaning that they are exposed to the credit risk of the issuing bank. CORN would be structured as an ETF.
CORN's expense ratio is listed at 1%, making it one of the more expensive commodity products; JJG and GRU both charge an expense ratio of 75 basis points.
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