# Oat Futures Break Long-Term Support

> 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.

- Date: 2020-03-03 · published 2020-03-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/12536-oat-futures-break-long-term-support
- Commodities: [Oats](https://feedsoft.ai/c/OATS.md)

## Why it matters

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.

## Read by commodity

- OATS: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/canada-markets/blog-post/2020/03/03/oat-futures-break-long-term-support

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