Oat futures extended their downside momentum toward the $4.3-per-tonne mark, a level not seen since July 2021, as worries about scarce supply that sent the commodity to record levels earlier this year started to ease amid big crops in the US and Canada. On top of that, Russia and Ukraine had signed a deal to reopen Ukrainian Black Sea ports for grain exports.
Historically, Oat reached an all time high of 811 in April of 2022. Oat - data, forecasts, historical chart - was last updated on August of 2022.
Oat is expected to trade at 443.18 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 375.21 in 12 months time.