Pulses: Ample supplies limit rise in oat prices

By Commodity News Service Canada

Winnipeg, July 7 – Large world supplies of oats are tempering the advances the commodity might otherwise have seen due to the recent heat wave in the Northern US and the Canadian Prairies. Canadian farmers seeded 3.22 million acres of oats this spring, which was up from the 2.83 million seeded the previous year, but about 200,000 acres below earlier expectations, according to Statistics Canada data. Excessive moisture in northern Saskatchewan at seeding time limited some acres. New crop oats are currently priced as high as C$3.10 to C$3.35 per bushel across Western Canada, according to the latest Prairie Ag Hotwire data. That compares with spring wheat prices topping C$9 per bushel in many locations.

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