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Western Canadian oat bids are less than half their year-ago levels, with the CBOT March oat contract at US$3.27/bu in early December. Farmers expect reduced oat acres in 2023 after the price collapse.
Canadian end users are slow to buy because they hold high-priced contracts and inventory.
Expected acreage cuts could tighten supply later in 2023, which may support prices, but current weak demand and heavy stocks keep the near-term outlook bearish.
farmtario.comAdam PeleshatyJan 13, 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.
