Agriculture Put Option Trades Jump Before USDA Report
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Trading of bearish options on agricultural stocks jumped for a second day, reaching a four-month high, before the U.S. Department of Agriculture releases its monthly global supply and demand estimates tomorrow.
Almost 5,300 options to sell the Market Vectors Agribusiness exchange-traded fund changed hands, 22 times the four-week average and 18 times the number of calls to buy. The ETF fell 0.1 percent to $45.55 as of 4 p.m. in New York and has surged 26 percent since falling to a one-year low on July 1.