Loading…
Statistics Canada cut its 2023 Canadian oat acreage estimate from 3.057 million to 2.537 million acres. Agriculture Canada's June projection put 2023/24 oat ending stocks at 1.25 million tonnes, and the revised acreage could drop carryover to around 500,000 tonnes by July 2024.
Smaller acreage and tighter carryout support oat prices for the coming crop year, which tightens feed oat supply for buyers. Weather on the Prairies is the remaining swing factor.
dairyproducer.comTanya EadieJul 12, 2023After 52 past bullish report events, Oats moved a median -2.0% over 5 sessions (33% higher; middle half -3.4% to +2.4%), and +0.7% over 20.
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.
