# W8 Oat Update: USDA Maintained 2023/24 Oat Production Forecast Amidst Downward Revision in World Cereal Output

> 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.

- Date: 2024-02-28 · published 2024-02-28T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/31715-w8-oat-update-usda-maintained-2023-24-oat-production-forecast-amidst-downward
- Commodities: [Oats](https://feedsoft.ai/c/OATS.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

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.

## Read by commodity

- OATS: neutral
- BARLEY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| OATS | 2023-12-22 | [W50 Oats Update: USDA’s World Oats Outlook for 2023/24 Unchanged, Spanish Markets React to Climate Tensions, and Oats Prices Fluctuate Globally](https://feedsoft.ai/events/32754-w50-oats-update-usda-s-world-oats-outlook-for-2023-24-unchanged-spanish-markets.md) | +6.1% | +1.9% |
| OATS | 2016-07-21 | [Canada’s grain production forecast flat \| World-grain.com \| July 21, 2016 19:19 \| World Grain](https://feedsoft.ai/events/11817-canada-s-grain-production-forecast-flat-world-grain-com-july-21-2016-19-19.md) | -4.3% | -17.1% |
| OATS | 2018-09-23 | [World oats production holds steady - Grain Central](https://feedsoft.ai/events/63079-world-oats-production-holds-steady-grain-central.md) | +4.6% | +16.7% |
| OATS | 2024-03-21 | [2024 Oat Forecast Leaves Market on Edge](https://feedsoft.ai/events/31266-2024-oat-forecast-leaves-market-on-edge.md) | +0.5% | +0.4% |
| OATS | 2025-07-24 | [Feed Outlook Tightens for 2025/26: What Pork Producers Need to Know - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info](https://feedsoft.ai/events/23815-feed-outlook-tightens-for-2025-26-what-pork-producers-need-to-know-swineweb-com.md) | +1.3% | -7.6% |

## Sources

- tridge.com: https://www.tridge.com/weekly-product-updates/w8-oat-update-usda-maintained-202324-oat-production-forecast-amidst-downward

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