A quick look at yesterday: without a clear direction, Oats closed at $375 per bushel while ranging between $371 and $381.25.
This uncertain state for Oats is reflected by published market data as United States CFTC Gold speculative net positions released yesterday at 19:30 UTC with a figure of 77,000, while the previous figure was 94,400. United States CFTC Nasdaq 100 speculative net positions released yesterday at 19:30 UTC with a figure of 1,500, while the previous figure was 8,500. United States CFTC Crude Oil speculative net positions released yesterday at 19:30 UTC with a figure of 251,500, while the previous figure was 259,200.
Oats made an initial breakout above its 3 day Simple Moving Average at $379.17, a potential indicator of a newly emerging bullish phase. The Oats future's upper Bollinger Band® is at $411.4 and the lower is $367.57.
Although price action remains in a stalemate, technical analysis suggests CME Oats could be primed for a break to the upside.
Meanwhile, mixed performances are seen in other Grains as after ending yesterday's session at $16.81, Rough Rice lost 9 cents and is trading around $16.72.
The commodity has been trending lower for about a month. 6 months ago CME Oats reached a significant high of $783.5 but has consequently lost 52.07% since then.