Nearby and new crop prices were unchanged this week at the crush plants. Headlines continue to drive market action across the board as the debate continues over whether the war in Iran is nearing an end or not. Traders next week will continue to monitor the Iran war while digesting USDA’s March 31 Prospective Plantings report, which is expected to show a sharp drop in corn acres from a nine-decade high of 98.8 million acres in 2025 to 95 million acres. Estimates of soybean acres are around 85 million acres with some market guesses as high as 86.1 million acres. Several market analysts forecast 2026 plantings of all U.S. wheat varieties at 44.7 million acres, which would be down from 45.3 million acres in 2025 and the lowest since 2020. Many are citing “weak profit margins” for wheat producers, noting that winter wheat acres are largely “locked in,” while spring wheat acres are expected to decline to an estimated 9.68 million acres. On the sunflower side, confection acres are expected to increase considerably from last year’s low level with oil acres increasing slightly. The March acreage report will guide the market as we head into the planting season. Prices could face pressure from expectations from bearish supply fundamentals, including a likely-record Brazil crop and outlook for a sharp increase in U.S. soybean plantings this spring.
ADM Enderlin, Cargill West Fargo and Colorado Mills crush plants are offering 2026 new crop cash and Act of God (AOG) High Oleic contracts. ADM is at $23.10 cash and $22.60 AOG. Cargill is at $23.00 cash and 22.50 AOG. Colorado Mills is at $22.20 AOG. Something else to consider is the oil premiums that crush plants pay on sunflowers. Sunflower is the only oilseed that pays premiums for oil content above 40%. Considering oil premiums that are offered at the crush plants on oil content above 40% at a rate of 2% price premium for each 1% of oil above 40%; this pushes a contract with 45% oil content gross return 10% higher per cwt. The AOG $22.50 contract increases to $24.75 and the cash $23.10 contract moves up to $25.40.
Cargill West Fargo is also offering an early harvest 2026 new crop price of $24.20 cash and $23.70 AOG with delivery by October 9.
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