# Initial US Oat Rating Highest in Four Years

> The USDA released its first national oats condition report for 2024, with an initial crop rating of 712. That is below the 1996-2024 average of 719 but the highest initial rating in four years and well above last year's 688. Cold, wet springs and drought in the Upper Midwest and Northern Plains, plus dry conditions in Texas, shaped the crop outlook.

- Date: 2024-05-16 · published 2024-05-16T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/10510-initial-us-oat-rating-highest-in-four-years
- Commodities: [Oats](https://feedsoft.ai/c/OATS.md)

## Why it matters

A stronger early condition rating points to a larger expected oat crop, which adds supply and tends to weigh on oat prices. Weather in the Upper Midwest and Northern Plains will still determine whether that rating holds.

## Read by commodity

- OATS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| OATS | 2024-05-16 | 1 | -5.4% | -3.6 | The USDA's first oat condition report on May 16 showed the best initial rating in four years, which eases new-crop supply concerns and could trigger selling after oats had rallied to five-month highs. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| OATS | 2023-10-24 | [Rolled higher up: Taking stock of Canadian oats - Statistics Canada](https://feedsoft.ai/events/33702-rolled-higher-up-taking-stock-of-canadian-oats-statistics-canada.md) | +4.7% | -9.9% |
| OATS | 2026-01-19 | [Big oat crop in 2025/26 pointing to less acres next year - Grainews](https://feedsoft.ai/events/21127-big-oat-crop-in-2025-26-pointing-to-less-acres-next-year-grainews.md) | -0.9% | +3.4% |
| OATS | 2019-07-12 | [Analyst Insight: Large UK oat area challenging for prices \| AHDB](https://feedsoft.ai/events/58134-analyst-insight-large-uk-oat-area-challenging-for-prices-ahdb.md) | -2.2% | -2.2% |
| OATS | 2022-08-01 | [Oats production forecast sharply higher but uncertainty remains](https://feedsoft.ai/events/40544-oats-production-forecast-sharply-higher-but-uncertainty-remains.md) | -5.7% | -6.8% |
| OATS | 2018-07-31 | [Winter wheat and oat harvests continue - High Plains Journal](https://feedsoft.ai/events/64087-winter-wheat-and-oat-harvests-continue-high-plains-journal.md) | +12.4% | +6.2% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/fundamentally-speaking/blog-post/2024/05/16/initial-us-oat-rating-highest-four

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.