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Sunflower Highlights

Post Date: May 15 2017

Crop Progress

Sunflower planting is getting underway in many states. In Minnesota, 28 percent of the sunflower crop is already in the ground.

Crop Progress - Monday, May 15, 2017 State This Week Last Week Last Year 5 Year Average North Dakota         Planted 11 NA 19 10 South Dakota         Planted 1 NA 2 1 Kansas         Planted 1 NA 0 2 Texas         Planted 34 17 33 41 Colorado         Planted 2 1 4 4 Minnesota         Planted 28 3 53 30

ChemChina Syngenta Takeover Approved

China Inc. reached a new milestone in global acquisitions as shareholders of agro-giant Syngenta AG approved a $43 billion takeover by China National Chemical Corp., sealing the country’s biggest foreign deal to date. China National Chemica, known as ChemChina, executives will look to expand Syngenta’s seed and pesticide businesses in China’s agriculture sector. Meantime, China’s government is contemplating a merger of ChemChina with state-owned conglomerate Sinochem Group.

FMC Agricultural Solutions Appoints Mike Harper Industry Relations Manager

Mike Harper has been named industry relations manager for FMC Agricultural Solutions in the U.S. and Canada. In his new role, Harper will lead the company’s industry association relationships, facilitate industry stewardship, and advance FMC industry goals. Harper joins the marketing team from the company’s Agricultural Solutions sales team where he served as a retail market manager in Missouri for 37 years, selling and servicing retail and wholesome accounts in the crop protection sector.

Register Now for Summer Seminar

Registration is now open on our website for the 2017 NSA Summer Seminar. This year’s Summer Seminar is the 35th annual. It will be held June 27-29, 2017 at the Rushmore Plaza Holiday Inn in Rapid City, South Dakota. Register now, as prices will increase closer to the event. Click here to register on our website. A block of rooms has been reserved there for June 27-28. To make your reservation, click here. Enter your check-in and check-out date. You also need to enter SA1 in the group code box. You can also call the Rushmore Plaza Holiday Inn at 605-348-4000 and book your room. The block of rooms is listed under National Sunflower Association. If you have questions, email Tina.

Upcoming Events

June 27-29, 2017 – NSA Summer Seminar, Rapid City, SD January 10-11, 2018 – NSA Research Forum, Fargo, ND

Markets

Old and new crop prices ended the week mixed at down 5 to up 5 cents at the crush plants. Sunflower is the only oilseed that pays premiums for oil content above 40%. Considering oil premiums that 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 $16.65 contract with 45% oil content gross return 10% higher per cwt and would raise the cash price to $18.32. An AOG contract at $16.15 per hundredweight to $17.76. CBoT traders are digesting the latest USDA and private crop estimates. Argentina’s Buenos Aires Exchange put their crop at 57.5 million metric tons (MMT) versus the previous 56.5 MMT, while Brazil’s government raised that crop to 113 MMT from 110.2 MMT. USDA had 57 million for Argentina and 111.6 million for Brazil.  USDA’s first estimate of the 2017/18 soybean stockpile could weigh on prices for the rest of the year, adding more pressure to new crop soybean prices. USDA issued its third-biggest May forecast of the last 20 years for new crop US soybean stocks at 480 million bushels. This came in as the sixth-biggest ever predicted in May. Burdensome world supplies and thoughts that producers will shift some wheat and corn ground this spring into more soybean acres is weighing on the minds of traders as well.

Weekly Prices Recorded on Monday, May 15, 2017 ($/CWT)   Deliver Last Year Last Week This Week Change 2017 NEW Crop Chicago Oil Nearby 32.79 32.73 33.02 +.29 33.40 Fargo, ND NuSun 16.75 15.00 15.00 NC 16.60 Enderlin, ND NuSun 16.90 15.25 15.20 +.05 16.65 Goodland, KS NuSun 16.80 14.05 14.10 +.05 14.95 Goodland, KS High Oleic 17.80 15.70 15.75 +.05 16.95 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.

U.S. CRUDE OIL VALUES recorded on Monday, May 1, 2017 (dollars per 100 lb. internal U.S. location)   Last Year Last Week This Week Change Soybean Oil 30.54 30.44 30.52 +.08 Cotton Oil (psby) 47.79 38.94 39.02 +.08 Corn Oil 45.25 41.50 41.50 NC