It's been more of the same this session on the back of 10 days of flat trade, Today's session so far looks to be heading in a similar way — the CME Oats future trades at $389.5 per bushel, after ending Friday at $390.25.
Oats's upper Bollinger Band® is at $403.28, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests the CME Oats future is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other Grains as after ending Friday's session at $18.12, Rough Rice lost 24 cents and is trading around $17.88. Soybeans goes up 0.63% to trade around $1,445.25.
Furthermore, the market is looking at tomorrow at 15:00 UTC data for United States Consumer Confidence will be released, with an expected decline to 100 from the preceding figure of 102.5.
The commodity has been trending positively for about a month. Oats traded as high as $783.5 before shedding 44.35% lower over the past six months.