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Noncommercial oat traders increased their net-long futures position by 22% to 2,447 contracts in the week ending November 7, the largest since October 2014. Oat futures finished higher for a second day while testing resistance at $2.76 1/2 on the December contract.
Speculative buying lifts oat prices, but the narrowing Dec/March spread to minus 10 cents signals commercial traders are turning bearish, so the rally may lack follow-through.
dtnpf.comCliff JamiesonNov 14, 2017Not 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.
