After closing the previous trading day at $328.75, Oats is up to $330.25 per bushel, which makes for a move of 0.46%/$1.5 today.
United States Retail Sales is next today at 12:30 UTC.
Nevertheless, Producer Price Index in United States fell short of market expectations (0.1%) with a reading of -0.5%, continuing the decline from the previous figure of 0%. Highly important Initial Jobless Claims data from United States beat analyst expectations of 232,000 with a reading of 239,000.
Meanwhile, United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.62 trillion, while the previous figure was 8.63 trillion.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that CME Oats's lower Bollinger Band® is at $320.37, indicating that the market is oversold and fertile for new buyers. Technical chart analysis shows CME Oats could be slowing down soon as it approaches resistance at $333.5. Of course, crossing it might suggest further gains are ahead.
Overall, the technical outlook suggests the CME Oats future is likely to remain muted for the immediate future, with no clear-cut direction.
Other Grains are showing mixed performance as Corn trades around $626.5, with no major change.
Also worthy of note, United States Core Retail Sales expected to decline to -0.3% while its preceding data was -0.1%, data will be available today at 12:30 UTC.
Furthermore, the market is looking at United States Retail Sales is expected today at 12:30 UTC.
Approximately 1 year, 1 day ago, the CME Oats future reached a significant high of $759.75 but has struggled to hold onto its gains and declined 56.73% since then.
