W37: Oats Update

Published Sep 22, 2023
W37: Oats Update

In W37 in the oats landscape, Statistics Canada (StatCan) released its 2023/24 oats production report on August 29, estimating Canadian oats production at approximately 2.429 million metric tons (mmt). However, there is skepticism about the initial estimate of harvested acres, set at 828,800, which might be too high. Even with a potential production increase, the 2023/24 oat crop is anticipated to significantly fall short of the previous year's production of 5.227 mmt. StatCan’s stock report place oat ending stocks for 2022/23 at 1.275 mmt, far more than the 333 thousand mt the year prior and above the five-year average of 518 thousand mt.

Regarding oat prices in Canada, Grain Millers is offering USD 6 per bushel (bu) for oats in the April to August time frame. Meanwhile, for current-year oats, Prairie Ag Hotwire listed them in Manitoba at USD 3.72 to USD 3.82/bu. delivered, down 18 cents from last month. Those in Alberta fetched USD 3.20 to USD 3.73/bu, dropping USD 0.30 over the same time.

In Khakassia, Russia, the 2023/24 harvest season has shown improvements in the harvest and average yield of oats, surpassing the previous year's figures. The average oats yield in the region stands at 2.04 metric tons (mt) per hectare (ha).

Lastly, in Spanish wholesale markets, cereal prices, including oats, have experienced declines in the early days of September 2023. Specifically, the price of oats has decreased by 0.63% week-on-week (WoW) to USD 334.80/mt (314.67 euros/ton) and has decreased by 6.07% so far this year.

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