The Oats future went up $7.25, closing at $409 and building up on its 10 days of gains

A quick look at yesterday: after closing at $401.75 on Thursday, CME Oats rallied as high as $420 but ended the day at $409 per bushel.

Meanwhile, United States Core PCE Price Index (YoY) (May) released yesterday at 12:30 UTC with a figure of 4.6, while the previous figure was 4.7. United States Core PCE Price Index (MoM) (May) came out at 0.3, while a consensus of analysts was expecting 0.3. United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -208,300, while the previous figure was -239,300.

Oats made an initial breakout above its 10 day Simple Moving Average at $410.57, a potential indicator of a newly emerging bullish phase. 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Despite this, after reaching the known resistance zone beginning at $418.08, Oats price action retreated approximately $9.08.

Examining the technical analysis landscape, the Oats future might continue its downtrend in the short term.

A look at other Grains also shows upside as Soybeans went up by 6.06% yesterday, and closed at $1,342.5. Rough Rice went up by 0.27% yesterday, and closed at $15.

At the same time, Corn is down to $495, losing $33.5, after ending the previous session around $528.5.

The commodity has been trending positively for about a month. After hitting an important low of $302.75 approximately a month ago, the Oats future has bounced back 32.7% since.