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Drought has pushed oat futures to an all-time high of $6.36 a bushel, with Canadian production nearly halved and the US harvest the smallest ever. Shares of oat-based food makers General Mills and Oatly have fallen.
Record oat prices from a shortfall in the largest exporter raise input costs for oat buyers and food makers, and could pressure margins.
bnnbloomberg.caMarcy Nicholson and Michael HirtzerOct 8, 2021After 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.
