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Western Canadian oat bids have fallen by more than half from a year ago, with high-delivered bids in Alberta at $5.32/bu and Saskatchewan at $4.13/bu as of early January. The March CBOT oat contract hit US$3.27/bu in December, its lowest since 2020, after an all-time high of $8.11 in April 2022.
Buyers who already hold oats show little interest in more.
Larger acreage and higher yields have increased supply while end users are well stocked, so demand is weak and prices remain under pressure. Canadian cash bids look high relative to futures, which limits basis-driven buying.
producer.comAdam Peleshaty, MarketsFarmJan 19, 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.
