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Seeding delays in Western Canada could shift more acres into oats, which need a short season and minimal inputs. Statistics Canada's first 2017 survey forecast seeded oats area at 3.4 million acres, up 20 per cent, and some merchants expect actual area to rise further if weather stays wet.
Oats futures at the Chicago Board of Trade had fallen back from nearby highs.
Extra oat acreage would add supply and pressure prices, but if fields go unseeded the shortfall could trigger a rally. The outcome depends on weather over the coming weeks.
farmtario.comPhil Franz-WarkentinMay 17, 2017
country-guide.caPhil Franz-WarkentinMay 17, 2017
grainews.caGFM Network NewsMay 17, 2017After 16 past neutral weather events, Oats moved a median +0.8% over 5 sessions (50% higher; middle half -5.9% to +3.3%), and +0.0% 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.
