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UK milling oat spot prices in October reached £181.50/t, the highest since May 2013 and 50% above a year earlier. Record dry spells cut spring planting, which accounts for 40-50% of the UK oat crop, and UK oat production fell 2% year on year.
Demand from July to September was up 9%.
Lower yields and quality from the dry spring tighten milling oat supply while demand rises, supporting firm prices. Oats are outperforming feed wheat and barley on a cost-benefit basis, which may keep buyers competing for supply.
fwi.co.ukJack YatesNov 6, 2018After 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.
