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Canada's oat production is forecast to fall 13% to 2.976 million tonnes after rain and snow delayed harvests across the Prairies. Quality has declined, pushing more oats into livestock feed, and prices have rebounded from a seven-year low in a strong harvest-season rally.
Canada is the world's largest oat exporter and sends over 90% of its exports to the US, so a smaller, lower-quality crop tightens supply for food and feed buyers. Oat prices are likely to stay firm while the harvest backlog persists.
theglobeandmail.comJEN SKERRITT, MEGAN DURISINNov 25, 2016After 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.
Not 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.
