CME Oats is down to $393.75 per bushel, after ending yesterday at $396. Overall, a 0.57% loss or $2.25 today.
United States Building Permits is next today at 13:00 UTC.
While price action maintains a negative bias, United States API Weekly Crude Oil Stock came out at -4.8 million, while a consensus of analysts was expecting -2.2 million. United States 7-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.89, while the previous figure was 4.027.
Oats's upper Bollinger Band® is at $409.57 which indicates a further downward move may follow.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts the Oats future to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Oats is expected to attract significant bearish sentiment in the coming days.
Taking a look at other Grains commodities, negative performances are evident as after ending yesterday's session at $17.95, Rough Rice lost 7 cents and is trading around $17.88.
Though the Oats future has been dropping, other Grains have been performing better: Corn is up 0.46%.
In the meantime, Soybeans trades close to $1,433.5, with no major change.
Moreover, United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%, having previously been at -0.5%. The figure will be published today at 13:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1 million. It previously stood at -5.4 million; data will be released today at 15:30 UTC.
Furthermore, United States New Home Sales (Oct) is scheduled for today at 15:00 UTC.
CME Oats is now trading 49.46% below the significant high of $783.5 it set around 7 months ago.