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USDA's July estimate put the US oat crop at 41.3 million bushels, the smallest on record back to 1866 and well below June's roughly 53 million bushels. Drought in the upper Plains is cutting yield potential in key states.
A record-small US oat crop removes supply that would otherwise be available to feed buyers, lifting oat prices and encouraging substitution toward other grains.
bloomberg.comMichael Hirtzer, Dominic CareyJul 12, 2021After 52 past bullish report events, Oats moved a median -2.0% over 5 sessions (33% higher; middle half -3.4% to +2.4%), 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.
