NEW YORK ( TheStreet) -- Fears that a supply shock could broaden the supply and demand imbalance in wheat have pushed the commodity to a 13-month high and there still may be opportunities for some strength in the wheat market.Harsh weather conditions, such as a severe drought in Russia and excessive rainfall in Canada, have also provided the groundwork for positive price support for wheat. In fact, production in Russia is expected to decrease significantly in order to prevent prices from skyrocketing; that could lead to a decline in exports.
- PowerShares DB Agriculture(DBA), which allocates nearly 9.2% of its assets to wheat.
- PowerShares DB Agriculture Long ETN(AGF), which seeks to replicate an index that allocates nearly 25% of its assets to wheat.
- iPath DJ-UBS GrainsTR Sub-Idx ETN(JJG)
- ELEMENTS MLCX Grains Index TR ETN(GRU)