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Oat futures fell 23 1/4 cents in the week ending around Feb. 28, 2020, the largest weekly loss in 12 weeks, breaking long-term trend line support.
On Monday the May contract fell 7 1/4 cents to $2.65 1/2, the lowest active-trade price for that contract. Noncommercial traders were paring their net-long positions, and the May/July spread moved into a bearish carry.
Oats are weakening amid coronavirus-driven risk-off sentiment and fund liquidation, pointing to lower feed oat costs for buyers in the near term. The shift to carry suggests ample nearby supply relative to deferred delivery.
dtnpf.comCliff JamiesonMar 3, 2020Not 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.
