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Sunflower Highlights

Post Date: Jun 03 2019

Crop Progress

Sunflower planting is well behind normal in South Dakota. Last year at this time, 35% of that state's sunflower crop had been planted. This year, no sunflower planting is reported. Other states are more on schedule, including Minneosta, where 74% of the crop is reporte planted.

Crop Progress - Monday, June 3, 2019 State This Week Last Week Last Year 5 Year Average North Dakota         Planted 43 21 63 61 Emerged 6 1 15 --- South Dakota         Planted --- --- 35 33 Colorado         Planted 8 --- 17 14 Kansas         Planted 17 2 33 19 Minnesota         Planted 74 52 88 81 Texas         Planted 56 27 54 67

Correction to MN Final Planting Date

In last week’s newsletter the final planting date for sunflower in Minnesota was incorrectly stated as being June 15. The correct final planting date is June 10in all counties. The final planting date is the last day that you can plant the crop and still get full insurance coverage. After this date the coverage is reduced by 1 percent per day and the actual final date that sunflower can be planted is July 5.

RMA Administrator to Speak at Summer Seminar

The United States Department of Agriculture’s (USDA) Risk Management Agency (RMA), created in 1996, serves America’s agricultural producers through effective, market-based risk management tools to strengthen the economic stability of agricultural producers and rural communities. Administrator Barbre will talk about RMA’s commitment to increasing the availability and effectiveness of Federal crop insurance and his vision to secure the future of agriculture by providing world class risk management tools to rural America. Barbre is just one of many speakers who will present at this year’s Summer Seminar, set for June 26-27, 2019 in Medora, ND. Registration is now $375 and will increase to $425 at the door. Click here  to register. Contact Tina Mittelsteadt at tinam@sunflowernsa.com with questions.

Markets

USDA’s announcement on the latest trade aid payment package surprised traders and producers alike. All had expected to hear of separate payment rates for each crop rather than the announced payments that are not tied to a specific crop but rather to aggregate planted acres. The additional caveat that acres must be planted in order to qualify for a payment has many traders wondering if this provision will influence producers to plant soybeans rather than corn in states where planting progress is significantly behind average. Sunflower prices trended higher this week. Old crop NuSun prices ended the week up 10 to 20 cents with High Oleic gaining 10 to 15 cents. New crop NuSun and High Oleic prices were unchanged to up 10 cents. New crop NuSun cash prices are in a range of $16.40-$16.85 with high oleics at $16.60-$18.10. Something else to consider is the oil premiums that crush plants pay on sunflower. These 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%; this pushes a contract with 45% oil content gross return 10% higher per cwt. An $16.60 contract would be $18.25 and $18.10 AOG contract reaches $19.90. Drier and warmer than normal weather conditions are forecast for the Dakotas and Minnesota and should allow for good planting progress in the week ahead.