National Sunflower Association
http://www.sunflowernsa.com/smartmail/Sunflower-Highlights-May-23-2016/
National Sunflower Association

Sunflower Highlights

Crop Progress - Monday, May 23, 2016
State This Week Last Week Last Year 5 Year Average
North Dakota        
Planted 46 21 25 18
Emerged 3 NA NA NA
South Dakota        
Planted 14 2 3 5
Minnesota        
Planted 70 57 61 38
Texas        
Planted 34 33 60 52
Colorado        
Planted 5 4 5 7
Kansas        
Planted NA NA 4 8


Grower Report
Planting is moving along quickly for Mohall, ND producer Jeff Oberholtzer. Oberholtzer started planting last Thursday and plans to finish seeding 2,000 acres of high oleic sunflower by Wednesday. Oberholtzer’s area of north central North Dakota has been wet for several years, but Oberholtzer says this year’s dry weather has allowed him to plant on land that hasn’t been planted for three years. 

Register Now for Summer Seminar
The NSA’s 34th Annual Summer Seminar is just over a month away. Join us in Bismarck, ND on 28-30 for this informative and fun event. Register now on our website. Registration will increase to $325 and golf to $100 after June 3, so register now!
 

Market Update
For sunflower prices at various locations, visit our website.

Markets
Markets were rattled with talk of an expected U.S. interest rate hike and a favorable weather forecast last week. Big fund players cashed out of long positions on fear that the U.S. Federal Reserve could raise interest rates next month. A lot of money in the market is using grain as a hedge against inflation, and if interest rates go up, inflation goes down. The latest weather report was non-threatening and should aid planting progress across the Midwest. NOAA also released its three-month summer forecast this week. The sunflower growing region is expected to have normal to above normal temperatures and normal precipitation in June, July and August. Very dry conditions are prevalent across the sunflower growing region at this time. Sunflowers will do well in these types of conditions due to its drought tolerance. Other crops may suffer so weather will be a concern in the months ahead if this scenario plays out. Crushers are still offering 2016 new crop Act of God (AOG) NuSun and high oleic sunflower contracts. Something else to keep in mind is oil premiums that are paid on sunflower. Oil premiums 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%. Traders will be watching US planting progress, export news and harvest conditions in Argentina this week.

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