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December oats hit a contract high of $3.00/bushel on Oct. 20 and climbed to $3.04 on Oct.
21. Noncommercial traders grew their net-long position for four straight weeks to the largest in 10 weeks.
Rising speculative long positions and an inverted spread point to firm nearby oat prices even though Canadian and US stocks are forecast to grow.
dtnpf.comCliff JamiesonOct 21, 2020Not 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.
Oats had rallied to a contract high near $3.00-$3.04 on Oct 20-21 with speculative net-long positioning at a 10-week high, so a -3.9% drop on Oct 27 is consistent with long liquidation and profit-taking from stretched positioning.
