Chart of the Week: Oats

About this chart: This is the weekly CBOT Oats continuation. You can see the major low in 2016 at $1.60 per bushel, the rally to $3.10, and then the 2018 low at $2.15. From there, prices rallied this week to the highest price since 2014 before turning lower late in the week.

What this means for you: I watch both crude oil and oats as lead indicator for corn prices. The rally in oats prices over the last few months is a positive long-term indicator for corn prices.