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The USDA's February report cut its 2023/24 world cereal production forecast by 2.9 million tonnes to 2,295.82 million, while keeping world oat output unchanged at 19.3 million tonnes. UK oat exports in July to December reached 74.2 thousand tonnes, well above the five-year average, driven by EU demand.
A lower world cereal estimate with steady oat output and strong UK export pace tightens available supplies for feed buyers. Consumer oat prices fell 18% year on year, so the price impact is modest.
tridge.comNur HameedFeb 28, 2024After 35 past neutral report events, Oats moved a median +0.2% over 5 sessions (51% higher; middle half -1.9% to +2.5%), and -1.2% over 20.
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.
