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CBOT December oats futures rose the daily 25-cent limit to settle at $5.57-3/4 per bushel, near a 7.5-year high. Drought cut Canada's 2021 oat crop to 2.6 million tonnes, down 43.6% from the prior year, per Statistics Canada.
Tight Canadian supply, the world's largest oat exporter, lifts oat prices and pushes oats out of the feed market toward food demand, leaving feed buyers facing higher costs and possible substitution.
agcanada.comAGCanadaSep 23, 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.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
