NEWS
Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Thu Jan 2, 2014 05:08 PM CST

While the oat market has not shown the bearishness seen in other grain and oilseed markets, the March oat contract has struggled at the resistance of the 61.8% retracement of the move from the June high of $3.94 1/4 per bushel to the October low of $3/bu., which is at $3.58 1/4/bu. Prices have struggled at this level over the past four trading sessions and the uptrend which began on Oct. 2 at a price of $3/bu. has moved towards a sideways trade.

As seen on the attached daily chart, March oats posted a failed key reversal on Dec. 13, ...

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