There was a fellow here years ago that said ,"oats knows"
Oats have bottomed and moved 60 cents higher!
Wheat seems to also bottomed.
Just observations.
Report today
Thanks, cutworm!
I was totally oblivious to the USDA report out today.
I've heard/read "oats knows" a zillion times the past 3+ decades.
I've always guessed that since oats are planted and harvested before the other crops, that it's price moves also do the same.
Is oats really a leading indicator?
One of the biggest problems is that oats is not even a reliable market for many things. It's always been extremely thinly traded and has only been getting worse.
The main trading contract, December oats for instance had a whopping total of 61 contracts traded overnight.
That compares to 25,000 for December corn(410 times the volume!!!) and 16,000 for December wheat. If I get the chance, I'll show price charts comparing them but whatever they show, any correlations are likely to more coincidental because of the extremely unique dynamics of oats compared to any other markets.
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Agree strongly on the wheat bottom!
I made a strong case for that 10 days ago and it's even more solid right now!
By metmike - Sept. 2, 2024, 2:18 p.m.