◂ Event Timeline

Oct 23, 2023POLICYUS

Ceres Global Ag Agrees to Pay $3 Million in Civil Penalties Over Trades in Oat Contracts

Minnesota-based Ceres Global Ag agreed to pay a $3 million civil penalty to the CFTC over attempts in 2016 and 2017 to manipulate oat futures. The company said it had been cooperating with the CFTC and Department of Justice since 2021.

WHY IT MATTERS

Enforcement against manipulation supports confidence in CBOT oats pricing but does not change the underlying oat supply. The case has little direct effect on feed prices.

AFFECTSOats◆

SOURCE
dtnpf.comChris ClaytonOct 23, 2023

Price reaction & history

Oats◆neutralSO FAR1d +0.8%5d +5.2%20d -9.8%

After 16 past neutral policy events, Oats moved a median -1.1% over 5 sessions (44% higher; middle half -3.1% to +4.3%), and -5.7% over 20.

Jan 25, 2024CFTC fines Ceres Global Ag Corp $3 million for trying to manipulate oat futures prices_Hawk Insight+4.6%
Apr 22, 2024Consortium to capitalise on growing global oat demand - Grain Central+4.2%
Apr 22, 2021$11.5 million program ushers in new era for oat breeding - Grain Central+1.8%
Apr 21, 2021New Era for Oat Breeding: significant investment over the next five years to accelerate the National Oat Breeding Program | AgriFutures Australia+4.7%
Dec 1, 2022Release: USDA Expands Revenue Protection to Oat and Rye Producers - ProAg-14.5%

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.

Oats OATS · GP ▸

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