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You Are Here Growers > Marketing > Week in Review




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October 20, 2014



CROP PROGRESS

Harvest is nearly one-third complete in Minnesota, where 28% of the crop is reported harvested. In the Dakotas, 11% of the sunflowers have been harvested. That's behind the average, which is between 27% and 33% at this time. But, the crop looks great - in North Dakota, 74% of the sunflowers are reported in good to excellent condition.


CROP PROGRESS as of October 20, 2014
  This Week Last Week Last Year 5 Yr. Avg
NORTH DAKOTA
Mature
95% 82% 92% 97%
NORTH DAKOTA
Harvested
11% 2% 5% 27%
SOUTH DAKOTA
Bracts Yellow
94% 92% 99% 100%
SOUTH DAKOTA
Mature
79% 74% NA NA
SOUTH DAKOTA
Harvested
11% 8% 15% 33%
KANSAS
Petals Dry
94% 92% 98% 98%
KANSAS
Bracts Yellow
86% 83% 97% 94%
KANSAS
Mature
67% 57% 84% 80%
KANSAS
Harvested
12% 7% 33% 29%
TEXAS
Harvested
85% 84% 52% 61%
MINNESOTA
Harvested
28% 15% 15% 53%
COLORADO
Harvested
15% 4% 40% 45%
Source: USDA NASS (not all states reporting)


SUNFLOWER CROP CONDITIONS
as of October 20, 2014
  Very Poor Poor Fair Good Excellent
North Dakota 2 4 20 61 13
South Dakota 0 2 37 55 6
Kansas 3 7 32 52 6
Colorado 1 18 32 41 8
Minnesota 1 8 51 34 6
Source: USDA NASS (not all states reporting)

GROWER REPORT

Keenesburg, Colorado producer Leon Zimbelman is about to start harvesting sunflowers, even though there hasn't been a hard freeze yet. He says harvest temperatures have been good, and preliminary yields in neighboring fields are reported at 2,800-3,000 pounds. Zimbelman has about 40 acres of sunflowers on his farm, which is about 35 miles northeast of Denver.

CRP CONTRACTS CAN BE TERMINATED

As part of the 2014 Farm Bill, participants meeting specific qualifications may have the opportunity to terminate their CRP contract during fiscal year 2015 if the contract has been in effect for a minimum of five years and if other conditions are also met. For more information on terminating CRP contracts visit a local FSA county office. Producers/Land owners have until January 30, 2015 to decide.

ADM TO ACQUIRE SPECIALTY COMMODITIES INC.

Archer Daniels Midland Company (ADM) today announced an agreement to purchase Specialty Commodities Inc. (SCI), a leading originator, processor, and distributor of healthy ingredients, including nuts, fruits, seeds, legumes, and ancient grains, for $170 million, subject to post-closing adjustments. SCI was founded almost 30 years ago and works with a global network of suppliers to source natural and organic ingredients and distribute them to customers in the snack, ice cream, cereal, nutrition bar, health food, bakery, pet food, and bird food markets. When the transaction closes, SCI will become part of ADM's new WILD Flavors and Specialty Ingredients business unit. The transaction is subject to regulatory approval and should be closed in the coming weeks.

CALL FOR PAPERS

Here's your chance to be a part of the National Sunflower Association's Research Forum. We're looking for research papers to be presented at the Forum, set for January 7-8, 2015 in Fargo, ND. Presentations may be either oral or in the form of a poster. A time will be designated for authors to be with their posters and answer questions. Each oral presentation will be limited to 10-12 minutes with 2-3 minutes allowed for questions. If you are interested in presenting a paper at the Forum, submit your application online at www.sunflowernsa.com/research/2015-call-for-papers/. You do not have to submit the actual paper or poster at this time, just the information indicated online and the author information. Submissions must be completed by November 15, 2014. If you plan to attend, registration will be open on our website soon. Meantime, it's a good idea to make your hotel reservations now. A block of rooms has been reserved at the Ramada Plaza Suites and Convention Center in Fargo and also at the Expressway Suites. More information and room rates are available at www.sunflowernsa.com/research/2015-call-for-papers/.

UPCOMING EVENTS

October 22, 2014 - NSA Research Committee Meeting
December 4-5, 2014 - NSA Board of Directors Meeting, Bismarck, ND
December 10, 2014 - High Plains Committee Meeting, Goodland, KS
January 7-8, 2015 - NSA Research Forum, Fargo, ND
June 23-25, 2015 - 2015 NSA Summer Seminar, Brainerd, MN



MARKETS

Private marketing firms are beginning to release 2015 crop acreage estimates. Informa Economics is expecting farmers to plant a record soybean crop in 2015. Informa forecasts the soybean crop at a record 88.5 million acres, up 86,000 from its September estimate and 4.3 million more than this year. If realized this could add a bearish tone to the market of even higher soybean supplies in the fall of 2015 adding to an already burdensome ending stocks situation for soybeans. Most traders believe that corn and soybean prices should continue to drift lower into the fall if actual harvest yields are equal or better than USDA October estimates. The crush plants are offering 2015 new crop NuSun cash and Act of God clause (AOG) contracts. All crush plants are also offering a bid for 2014 High Oleic sunflower at a premium to NuSun prices. The weather forecast for sunflower production areas looks to be favorable with above normal temperatures and below normal precipitation in the next two weeks, which should hasten drydown and aid in harvest. Harvest progress and yield reports will drive prices in the near term.

For sunflower prices at various locations refer to our website Daily Market News.


Weekly Prices Recorded on Monday, October 20, 2014 ($/CWT)
  Deliver Last Year Last Week This Week Change 2015 New Crop
  Chicago Oil          
  Nearby 41.64 32.88 31.70 -1.18 32.69
  Fargo, ND          
  NuSun 19.35 17.40 17.10 -.30 17.10
  Enderlin, ND          
  NuSun 19.35 17.25 16.95 -.30 17.20
  Goodland, KS          
  NuSun 19.15 16.80 16.50 -.30 16.80


US CRUDE OIL VALUES
recorded on Monday, October 20, 2014
(dollars per 100 lb. internal U.S. location)
  Last Year Last Week This Week Change
Soybean Oil 40.14 33.37 31.70 -1.67
Cotton Oil (pbsy) 41.14 45.05 43.70 -1.35
Corn Oil 39.50 35.50 35.50 NC
Prices recorded here are believed to be reliable at the time of publication. Individual companies have the right to correct any errors that may occur. Contact these facilities for complete market details


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