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This is the Sunflower Market News for 04/15/2024

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Sunflowers are priced per hundred weight (CWT).

NuSun Prices

Location April Change May Change June Change
West Fargo ND NQ unch NQ unch 15.50 Call unch
Enderlin ND 13.50 unch 13.50 unch 14.50 unch
Prices recorded here are believed to be reliable at the time of posting. All prices are subject to change. Contact these facilities for complete market details.

 
 

High Oleic Prices

Location April Change May Change June Change 2024 New Crop Change
West Fargo ND 13.75 unch 13.75 unch 15.25 unch 19.25 Cash/19.25 AOG unch
Enderlin ND 14.00 unch 14.00 unch 15.00 unch 19.00 Cash/Call for AOG unch
Lamar CO 15.70 unch 15.90 unch 16.10 unch 20.00 AOG unch

 

CBoT

  Trading Range Nearby Close Change
Soybean Oil -.42 to -.55 45.47 -.47
Soybean Meal -2.70 to -5.70 338.70 -5.70
 
Market Comments

Nearby prices were unchanged with new crop unchanged to up 75 cents this week at the crush plants. USDA released the latest World Agricultural Supply and Demand Estimates (WASDE) report this week. USDA increased soybean ending stocks for the 2023-24 marketing year to 340 million bushels (mb), up 25 mb from March's estimate, reflecting changes to exports, seed, and residual usage. The ending stocks figure was more than the trade expected. USDA left production and beginning stocks unchanged. Globally, USDA made only minor revisions to supply and demand, dropping ending stocks by 0.05 million metric tons (mmt) to 114.22 mmt. USDA left Brazilian soybean production unchanged at 155 mmt, matching the high end of pre-report estimates. Argentine soybean production was also untouched at 50 mmt. The trade expected an increase for Argentina and a decrease for Brazil. There is still time to adjust plans to take advantage of the market opportunities that sunflowers can offer. USDA pegged a 31% decrease in oil-type planted acres from 2023. Something to consider is how well sunflowers performed last year. Confections had a record high yield while oil-types had the second highest yield on record for the U.S. With crop insurance prices of $23.80 for oils and $28.80 for confections and much lower acres, diversifying market risk with some sunflower acres would be a good option in 2024.

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