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Canadian analysts Randy Strychar and Shawna Mathieson forecast oat plantings would rise 12% to 13% in 2017, mostly at the expense of spring wheat. Their estimates were well above Statistics Canada's projection of a 6% to 7% increase.
Uncertainty remains over how many 2016 oat acres were lost to harvest snow, with many Alberta and Saskatchewan acres still unharvested.
Larger expected oat acreage would add supply and pressure oat prices, while lower spring wheat plantings could tighten wheat supply. Poor harvest quality from the 2016 snow losses could limit feed-grade oat supplies.
bakingbusiness.comJay SjervenMar 13, 2017After 72 past bearish report events, Oats moved a median +0.2% over 5 sessions (50% higher; middle half -3.7% to +3.8%), and -2.5% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
