U.S. Wheat ETF Runs Out of Shares as Commodity Demand Booms Anew

Until this month, the only U.S. exchange-traded fund tracking wheat had never lured more than $35 million in a single day. On Friday alone, it added five times that amount.

The Teucrium Wheat Fund (ticker WEAT) gathered almost $183 million at the end of last week asfutures soared following Russia’s invasion of Ukraine. That historic flow caused an unusual problem for the ETF -- it ran out of shares.

Ordinarily, ETFs can constantly create or redeem shares depending on demand. But WEAT is a so-called commodity pool, which have a pre-set number and require regulatory permission to generate ...