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Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Fri Mar 28, 2014 06:08 PM CDT

The writing may be on the wall for the oat market with reports that the E.U. has licensed over 200,000 mt of supplies for export to meet demand by U.S. millers. While the May contract has fallen 20% from the high of $5.04 1/2 reached in early March, it has found support over the last four days at the 50% retracement of the uptrend which started at the $3/bu. low in October to the $5.04 1/2 high. Today's close fell right on this level of support at $4.02/bu.

Investors are spooked and have been sellers of late, with the noncommercial ...

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