Loading…
December oat futures closed at $2.69 1/2 per bushel on Thursday, breaking above $2.67 1/2 resistance to reach a nine-week high. The contract has recovered about 16% from its early September low.
Analysts noted weakening spreads and overbought readings that could signal a pullback.
The technical breakout reflects routine price action with no new supply or demand cause, so feed buyers should watch for a possible sell-off given the overbought signals.
dtnpf.comCliff JamiesonOct 19, 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.
