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DTN's weekly review of grains and softs reports the July 2018 oats contract closed at $2.36, down 5.5 cents on the week, and July rice closed at $12.99 after a new high of $13.215. Cotton and coffee were also lower on the week, with technical chart patterns discussed.
The analysis is routine chart commentary with no new fundamental cause. Rice and oats are not major feed price drivers here.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
July rough rice hit a new high of $13.215 before closing at $12.99, so the sharp one-day drop on 4/25 plausibly reflects profit-taking and technical reversal from an overextended rally.
July rough rice had just hit a new high of $13.215 before closing lower, so the -3% drop on 4/26 plausibly reflects technical profit-taking after an overbought run.
