Oats

Oats are a cool-season cereal grain primarily grown in Canada, Russia, and Northern Europe, used predominantly for livestock feed and human food products. The US futures market for oats is relatively illiquid compared to corn or wheat, making it susceptible to outsized moves on thin trading days. Growing consumer interest in oat-based products (oat milk, overnight oats, granola) has provided a long-term demand tailwind from the food-processing sector.