Oats

Oats trade as whole grain and through processed forms such as groats, rolled oats and meal. A comparable physical lot needs its product form, crop year, grade, test weight, moisture, soundness, food or feed use, origin, Incoterm and delivery window.

Editorial evidence reviewedReviewed 2026-09-03Release 2026-09-19-batch-230
Global production
23M MT
2023/24
Market value
$5.8B
Producing countries tracked
9
Grading systems
1
Active supply risks
3
Trade corridors
3
Latest reviewed evidence

This release uses current CME oats contract specifications and official USDA oats grades. Contract quantities and grade factors are reference definitions, not a live cash quote or a delivered physical price.

CBOT oats contract size
5000
bushels · current CME specification
Approximate contract mass
73
metric tons · 5,000 bushels at 32 pounds per bushel
Regular delivery months
5
March, May, July, September, December · current CME specification

Whole oats and processed oats are separate products

Whole grain, dehulled groats, steel-cut oats, rolled oats and oat meal differ in processing, yield, food-safety controls, packaging and end use. Atlas keeps product form attached to the record instead of comparing a processed food ingredient with bulk feed grain.

Grade and quality evidence

Official grain grades use test weight, soundness and defect factors. Commercial food-oat contracts can add moisture, groat percentage, colour, odour, foreign material, damaged kernels, pesticide residues, mycotoxins, microbiological limits and allergen cross-contact controls tied to sampling and test methods.

Benchmark and physical delivery remain distinct

CME defines a 5,000-bushel oats reference contract. A physical offer still needs crop year, grade, food or feed use, origin, quantity, currency, Incoterm, load point or destination, shipment window, freight and dated inspection evidence before delivered values can be compared.

Questions procurement teams ask

Are whole oats and rolled oats the same trade product?

No. Rolling and other processing change product form, yield, specifications, packaging and end use.

How large is one CME oats contract?

The current CME specification states 5,000 bushels, approximately 73 metric tons using the contract's 32-pound bushel basis.

Is the oats futures value a delivered physical price?

No. It is a reference-market anchor. A delivered physical value additionally needs grade, origin, basis, Incoterm, destination, freight, delivery timing and evidence vintage.

Which fields make oats offers comparable?

Product form, crop year, food or feed use, grade, test weight, moisture, defects and safety limits, quantity, origin, currency, Incoterm, destination, shipment window and evidence date.

Sources and provenance

Figures retain their source, period and review date. Corroboration is not promoted to primary evidence.

Oats Futures — contract specifications
CME Group · Primary exchange source · accessed 2026-09-03
Oats Standards
USDA Agricultural Marketing Service · Primary government grade standard · accessed 2026-09-03
Grains, Feeds and Fodders
USDA Foreign Agricultural Service · Primary government data and analysis index · accessed 2026-09-03
Grading systems
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National and regional grading frameworks defining tradeable quality.
Producers
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Country-level production, share of global output, exporter/importer status.
Supply risks
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Active and seasonal supply-side risks — weather, disease, geopolitical, regulatory.
Documentation
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Required export and import documents per origin-destination corridor.