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.
Indicator | VALUE | Signal |
---|---|---|
RSI | Neutral | |
MACD | Buy | |
Donchian Channel | Neutral | |
MA(200) | Sell | |
Fractals | Buy | |
Parabolic SAR | Buy |
Summary of technical analysis
Order | Buy |
Buy stop | Above 217.7 |
Stop loss | Below 256.1 |
Market Analysis provided by IFCMarkets.com
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