W50 Oats Update: USDA’s World Oats Outlook for 2023/24 Unchanged, Spanish Markets React to Climate Tensions, and Oats Prices Fluctuate Globally

Global Oats Production Stays Stable in 2023/24 Forecast

In its Dec-23 report, the United States Department of Agriculture (USDA) increased its previous forecast for world cereal production in 2023/24 by 3.8 million metric tons (mmt), bringing the new estimate to 2.29 billion metric tons (mt). However, the forecast for oats remains nearly unchanged at 20.5 mmt.

Spanish Cereal Prices Inch Up in Dec-23 Amid Global Climate Concerns

Cereal prices rose slightly in Spanish markets so far on Dec-23. They represent a change in trend compared to the declines of recent weeks and a reflection of international tensions over climate issues. Oats were up 0.11% month-on-month (MoM) to USD 341.56/mt.

Consumer Oats Prices Decline 1% WoW and 24.5% YoY

In Poland, from November 20 to 26, 2023, data from the Integrated Agricultural Market Information System of the Ministry of Agriculture and Rural Development showed that consumer oats were purchased at USD 263.99/mt, representing a 1% week-on-week (WoW) decrease and 24.5% year-on-year (YoY) decrease.

Kazakhstan Reports Oats Reserves of 156 Thousand mt as of Dec-23

In Kazakhstan, grain reserves totaled 15.4 mmt as of the beginning of Dec-23, with oats accounting for 156 thousand mt.