After closing the previous trading day at $394, Oats is up to $395.75 per bushel, which makes for a move of 0.44%/$1.75 today.
United States ADP Nonfarm Employment Change (Jan) is next today at 13:15 UTC.
Nevertheless, following a previous reading of 109, Consumer Confidence in United States released yesterday at 15:00 UTC fell short of the 109 figure expected by analysts with an actual reading of 107.1.
At the same time, United States API Weekly Crude Oil Stock came out at 6.33 million, while a consensus of analysts was expecting -1,000,000. United States Chicago PMI (Jan) released yesterday at 14:45 UTC with a figure of 44.3, while the previous figure was 45.1.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, the Oats future's upper Bollinger Band® is at $399.2, this is a slight indication of a slowdown.
Overall, while CME Oats has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
While CME Oats is higher so far today, these Grains commodities are underperforming: Corn closed at $673.5 (down 0.92%).
Other Grains are showing mixed performance as Soybeans moves 0.21% to trade around $1,533.5.
Furthermore, the market is looking at today at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 376,000 from the preceding figure of 533,000.
Also worthy of note, United States ADP Nonfarm Employment Change (Jan) scheduled to come out today at 13:15 UTC. United States Interest Rate figure is projected at 4.75. It previously stood at 4.5; data will be released today at 19:00 UTC.
The commodity has been trending positively for about a month. The CME Oats future is now trading 49.71% below the significant high of $783.5 it set around 9 months ago.