Updated Markets - May 9, 2016
Sunflower prices have rallied at the crush plants. Old crop has gained 35 cents and new crop added 30-40 cents. New crop NuSun cash prices are now at $17.40 at West Fargo $17.35 at Enderlin with Goodland at $16.95. Crushers are still offering new crop Act of God (AOG) contracts for fall delivery as well. 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%. For example, a $17.40 contract with 45% oil content results in a 10% price premium which pushes gross return to $19.15 per cwt. ADM is offering additional 2016 new crop Act of God (AOG) high oleic sunflower contracts at Enderlin and Pingree, ND and Goodland, KS. When high oleic contracts were first offered at the ND locations this winter they were snapped up quickly with many growers still looking to contract 2016 production. This is an opportunity to lock in prices and diversify your crop risk this year. On The CBoT, traders will be focused on South American weather and harvest progress. Also, USDA releases its newest supply and demand report on Tuesday.