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December oat futures closed 5 1/4 cents higher at $2.79 3/4 per bushel on Wednesday, breaking out of a sideways range held since July 19 and reaching a seven-week high. The contract closed above its 20-, 50-, 100- and 200-day moving averages after dipping below them intraday.
A breakout to a seven-week high with heavy volume signals firmer oat demand or tighter nearby supply, supporting oat values for feed buyers. The narrowing Dec/March spread toward inversion also points to near-term tightness.
dtnpf.comCliff JamiesonSep 11, 2019Not 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.
