Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Thu Jan 9, 2014 05:07 PM CST

One Twitter comment yesterday said it all, suggesting "sell everything, buy oats." The oat futures market has paid little attention to the bearishness seen in the other grains, moving up 6 1/2 cents Monday, 12 3/4 cents Tuesday, 13 cents on Wednesday and a further 18 1/4 cents in today's trade, for a total move this week (so far) of 50 1/2 cents per bushel.

The continuous weekly chart indicates the oat future is close to a test of resistance at the December high of $3.98 1/2/bu., while additional resistance lies ahead from weekly highs in July of $4.05 1/4/bu., ...

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