Oat Futures—Oat futures in the December contract is currently trading at 2.74 a bushel after settling last Friday in Chicago at 2.70 up about $0.04 for the trading week.
I have been recommending a bullish position over the last several weeks from the 2.75 level as it is time to exit and move on as I do not want to take this position into that highly anticipated crop report as this trade basically was neutral.
Oat prices are trading above their 20 & 100 day moving average as the trend may have turned, but I will sit on the sidelines and wait and see what that report states.
Volatility in the oat market is relatively low at the current time for the as the chart structure is solid as we could be involved in this market in the coming weeks ahead, but this crop report as so many variances and nobody knows what direction prices will go as it’s too dangerous so move on and look at other commodities markets that are beginning to trend.
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