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Chicago oat futures rose 1.6% to a record $8.075 per bushel on Monday as persistent dryness in the Canadian Prairies continued. Drought last year shrank Canada's oat crop to a decade low, and Canada is the top oat supplier to the U.S. Snowfall in the Great Plains is delaying spring sowing.
Canada supplies most U.S. oats, so a drought-cut crop and delayed planting tighten supply and support prices for oat feed and milling buyers.
bloomberg.comMichael Hirtzer, Brian K SullivanApr 11, 2022After 68 past bullish weather events, Oats moved a median -0.8% over 5 sessions (47% higher; middle half -3.6% to +3.9%), and -0.3% 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.
