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Chicago oat futures have traded in a range of roughly US$3.40 to US$4 per bushel over the past year, climbing from US$3.41 on Feb. 12 to US$3.86 on March 4.
Analysts say the swings reflect thin speculative and hedging volume rather than cash demand, and Canadian cash prices held steady.
With futures disconnected from cash bids, the rally offers little signal for feed oat buyers, who should price off local cash markets instead.
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.