The Oats future trades at $333.75 per bushel, after ending yesterday at $334.
United States Core Durable Goods Orders is next.
Uncertainty around the Oats future is reflected by published market data as United States New Home Sales (Mar) came out at 683,000, while a consensus of analysts was expecting 630,000. Following a previous reading of 104, Consumer Confidence in United States released yesterday at 14:00 UTC fell short of the 104 figure expected by analysts with an actual reading of 101.3. United States Building Permits released yesterday at 12:10 UTC with a figure of 1.43 million, while the previous figure was 1.55 million.
Oats's upper Bollinger Band® is at $345.52, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests the Oats future is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other Grains as Corn trades around $609.5, with no major change. Soybeans moves 0.23% to trade around $1,420.75. Rough Rice is down 4 cents from the beginning of the session and now trades around $17.11.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Crude Oil Inventories is projected to outperform its last figure with -1.49 million. It previously stood at -4.58 million; data will be released today at 14:30 UTC. United States Pending Home Sales projected to decline to 0.5% while previous data was 0.8%; data will be released tomorrow at 14:00 UTC. Projections for United States GDP are set for a continuation of decline with two while previous data was 2.6; data will be released tomorrow at 12:30 UTC.
Since its 52-week high of $714, CME Oats has lost 53.29% over the last twelve months.