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Oat futures rallied about $1.40 since May on reduced Canadian planted acreage of 2.537 million acres, down 35.6% from last year. Dry conditions have also raised yield concerns, and open interest fell during the rally, pointing to short covering.
Reduced acreage and dry weather point to tighter oat supply, which supports feed oat prices for buyers.
stonex.comCraig TurnerJul 6, 2023Not 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.
