Weekly Product Updates

W38: Oats Update

Published Sep 28, 2023

In W38 in the oats landscape, the United States Department of Agriculture (USDA) lowered its forecast for world cereal production in 2023/24 by 6.8 million metric tons (mmt) in its Sept-23 report, bringing the new estimate to 2.28 billion metric tons (mt). This adjustment also affected oats, with production expected to drop by 470 thousand mt to 20.57 million mt.

In Russia's Altai region, barley and oats are more in demand than rye. As of September 15, oats' gross harvest reached 180 thousand mt with a yield of 1.56 mt per hectare (ha). The harvest is divided into premium oats (12%), 2nd grade (25%), 3rd grade (17.5%), and 4th grade (43.5%).

Oat prices in Spain's Segovia Market remain stable at USD 298.04/mt in W38. Meanwhile, in the third week of Aug-23, declines in grain prices were recorded on the Polish domestic market. Consumer oats in Poland were purchased at USD 181.40/mt, marking a 2% week-on-week (WoW) and 8% month-on-month (MoM) decrease and a 35% decrease compared to the previous year.

In Turkey, the Istanbul Metropolitan Municipality (IMM) distributed barley and oat seeds to 1,982 farmers in the city. This initiative aims to support Istanbul's farmers and also those from various regions across Turkey, with a particular focus on earthquake-stricken areas.

Lastly, in Canada, weather-related issues are causing significant declines in oats and barley yields, with barley expected to yield over a fifth less and oats expected to have half the usual yield.

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