Sunflower Highlights

Post Date: Feb 10 2020

NSA President to Speak at Bird Damage Management Conference

NSA President and Bismarck, ND producer Clark Coleman will be a featured speaker at the Bird Damage Management Conference in Salt Lake City, Utah this week. Coleman will talk about sunflower losses caused by blackbirds and why this is an economic burden to producers. The conference is sponsored by the Berryman Institute. Professionals from around the U.S. will discuss and share management approaches, research strategies, policy and messaging around the management of blackbirds, starlings, corvids and vultures.

Corteva to Stop Producing Chlorpyrifos

Corteva will stop producing the agricultural pesticide chlorpyrifos by the end of the year, the company said last week. Corteva sells chlorpyrifos under the Lorsban® brand. Environmental groups have pushed regulators to ban uses of the 55-year-old pesticide over concerns it harms people and wildlife. The company said declining sales drove its decision to end production. Corteva officials said they continue to believe chlorpyrifos is safe and will go on supporting chlorpyrifos in an EPA review. Other manufacturers are expected to continue offering chlorpyrifos in generic versions.

Nominations invited for NSA Gold Award

This is the last week to submit a nomination for the NSA Gold Award. Nominations must be received by February 14, 2020. Click here for the eligibility and criteria requirements. The NSA Board of Directors will review all submitted applications and choose a winner. The Gold Award will be presented during this year’s NSA Summer Seminar, set for June 23-25 in Spearfish, SD.

Markets

We are in the price discovery process for 2020 crop insurance price elections. Currently, oil type sunflowers are at $17.20 and confections are $23.00 per cwt. To follow sunflower price election trends, watch the 2020 CBoT December soyoil contract through February 28. Final price elections will be announced in early March. The Trump administration now expects the coronavirus will throw a wrench into the new "phase one" trade deal with China. Administration officials think the export surge from that trade deal will take longer because of the Chinese virus. Price gains will likely be limited due to economic growth concerns in China due to the disease outbreak. Malaysia’s January palm oil stocks are predicted to drop 12% to 1.76 million metric tons, which is the lowest level in more than two years, on the heels of a 9% reduction in output. This is bullish news for all vegetable oils as palm oil is one of the most widely consumed oils in the world. Nearby CBoT soybean oil futures have risen on this news. It is also positive news for high oil content oilseeds such as sunflower as seed prices are tied very closely to oil values. The drop in palm oil inventory opens additional sales opportunities for sunflower oil in the months ahead. In the week ahead CBoT traders will continue to weigh the coronavirus impact on US export demand and South American production prospects.