The sunflower market established new market highs for old and new crop this week adding 10 to 25 cents. Nearby prices are trading in range of $29.40-$29.50 in the Dakotas. New crop NuSun is priced at $27.30-$27.80 with high oleic at $27.80-$28.30 at the North Dakota crush plants. In the High Plains, nearby and new crop high oleics were unchanged. Birdfood is trading in a range of $28-$30 in the Dakotas. Sunflower trading continues to be influenced to a greater extent by crop conditions and development progress. Sunflowers are mostly in the late bud stage or blooming in the Dakotas and Minnesota. In Texas, planting has wrapped up and harvest is on-going making good progress. Traders are closely watching weather conditions for the Dakotas and Minnesota. Severe to exceptional drought conditions are prevalent throughout the area and it is looking like not much will change through the end of July, with the Dakotas and Minnesota heavily favored for above average temperatures and below normal precipitation. At this time, it is unknown how this might impact sunflower production. Currently, the majority of the crop is in fair to excellent condition. Mid-August through September is the critical time frame for sunflowers. The ongoing drought conditions and production uncertainty should keep old and new crop prices trending to the upside as birdfood and crushers compete for remaining old crop seed stocks to cover near term needs.
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