27 Aug

OATS Analysis: Higher demand for Canadian exports bullish for oats

August 27, 2020

By IFCMarkets.com

Higher demand for Canadian exports bullish for oats

Canada’s oats exports are higher in the new crop year indicating higher demand for the cereal considered a healthy grain. Oats export from Canada in the first two weeks of August 2020 were recorded at 58.2 thousand tons -more than triple the volume of exports for the same period last year, according to Government of Alberta, Canada Weekly Market Review. The review also projected a 5.1% increase for exports by year end. Canada is the top world exporter of oats – Canadian oats exports accounted for 52% ($379 million) of the world exports in 2018. Higher demand as evidenced by higher exports is bullish for oats price.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelNeutral
MA(200)Sell
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 217.7
Stop lossBelow 256.1

 

Market Analysis provided by IFCMarkets.com


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