# May Oats Hold the Line Above Support

> May oats are holding above a trendline drawn from the September contract low after testing a 33% retracement of the move from the September low to the February high. The May/July spread has been inverted since January 18, and noncommercial traders increased their net-long futures position to 554 contracts as of February 28.

- Date: 2017-03-06 · published 2017-03-06T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/72037-may-oats-hold-the-line-above-support
- Commodities: [Oats](https://feedsoft.ai/c/OATS.md)

## Why it matters

An inverted May/July spread signals strong near-term commercial demand for oats, and rising speculative net-long positions add support to prices in the short term.

## Read by commodity

- OATS: bullish ▲

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/AG/blogs/canada-markets/blog-post/2017/03/06/may-oats-hold-line-support

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.