Agricultural Product ETNs Surge 9.1% in July Amid Super El Niño Warnings

According to Korea Exchange, agricultural product ETNs surged this month through July 10 amid warnings of potential 'Super El Niño' conditions. The Meritz Leverage Representative Agricultural Commodity Futures ETN (H) rose 9.1% from June 30 to July 10, closing at 10,230 won. Specific commodity ETNs also climbed sharply: the Hana Leverage Corn Futures ETN gained 8.8%, KB Leverage Wheat Futures ETN rose 8.7%, and Hana Leverage Soybean Futures ETN increased 6.5%, outperforming the Kospi's 11.8% decline over the same period.

International agricultural commodity prices tracked the rally. On July 9, Chicago Board of Trade (CBOT) wheat futures traded at $611.25, up 5.3% from late June, while soybean futures rose 5.6%, according to Yonhapinfomax. Market participants attribute the gains to concerns that extreme weather—droughts, floods, heat waves—triggered by El Niño could damage crop yields.