Oats
Oats
Price movements (monthly)
Oats CME Chic US
Month-on-month Change
Year-on-year Change
- The Euronext milling wheat futures price decreased by €11.50/mt m-o-m to €182.25/mt, while the CBOT wheat futures price decreased by $1.65/mt to $185.19/mt.
- This month, market sources have primarily credited downward price movements on the Euronext and CBOT towards increasing global supply prospects and lower demand.
- Sources said that milling wheat availability is varied and could had slowed declines over the last month. Market players have reported that French grain quality is slipping, while Canadian wheat is impacted by drought and protein content in US wheat is uneven.
Oats
Price forecast
CME oat prices have continued their prolonged decline, reaching USc 9.05/lbs in late October — the lowest level in five years. This persistent downtrend reflects ongoing market weakness, but our models suggest that the recent decline may now be overstretched. Based on current fundamentals, prices appear significantly undervalued, suggesting the potential for at least a temporary upward correction as the market will need to readjust and rise toward fair value.
Seasonal dynamics support the idea of a temporary price increase. Historically, oat prices tend to peak in January or February, suggesting short-term upside potential going into the first quarter of 2026. Nevertheless, according to the USDA, global oat inventories for the 2025/26 marketing year are expected to rise slightly year-on-year, which could apply a slight downward pressure and limit the scope of any sustained recovery in the short term. This implies that price volatility may persist until a clear reversal is confirmed.
Technical indicators continue to signal a downtrend, reinforcing the risk of near-term weakness. However, divergences by the RSI and supportive trendlines suggest that the bearish momentum could be weakening. This would support the idea of a potential price turnaround going into late 2025 or early 2026.
Overall, the price of CME oats remains downtrend, indicating additional declines cannot be ruled out. However, given the extent of price undervaluation and the likelihood of a seasonal demand, a temporary price correction appears increasingly probable in early 2026. We continue to monitor developments closely and will alert clients once technical confirmation of a trend reversal emerges.
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