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Sunflower Highlights

Post Date: Nov 25 2019

Crop Progress

High moisture seed and cold weather continues to hamper harvest progress in the largest production area of the Dakotas and Minnesota remaining behind the five-year average pace.

Crop Progress - Monday, November 25, 2019 State This Week Last Week Last Year 5 Year Average North Dakota         Harvested 41 34 79 90 South Dakota         Harvested 60 49 72 89 Minnesota         Harvested 79 69 97 98 Kansas         Harvested 94 92 80 88 Colorado         Harvested 97 92 81 90 Texas         Harvested 90 87 89 90

Seed Quality High Plains 2019 2018 Oil Content 39.7% 40.2% Foreign Material 6.8% 5.0% Moisture 6.8% 8.4% Test Weight 28.4 lbs 28.2 lbs Northern Plains 2019 2018 Oil Content 43.3% 43.6% Foreign Material 5.3% 3.6% Moisture 11.9% 9.0% Test Weight 29.7 lbs 31.3 lbs

Japan Approves Trade Deal

Last week, Japan’s powerful lower house of parliament approved the U.S. and Japan trade agreement that will lower or eliminate tariffs into Japan's market for many agricultural products. The measure now moves to the less powerful upper house, where it is expected to win passage as well. The trade pact reduces the tariff for U.S. sunflower oil putting us on par with our foreign competitors.  Under the agreement, the tariff on crude sunflower oil is reduced by one third of the base rate on Jan. 1, 2020 and scheduled to fall to zero by April 1, 2023. Japanese consumption and import of sunflower oil are increasing and is expected to increase by 5 percent annually. Removing the tariff will ensure the U.S. sunflower industry remains competitive in the Japanese market and will foster the future export of sunflower oil.

Grower Report

Lakota, ND producer Scott Nelson is happy to be done harvesting sunflower. He finished combining his 1,200 acres of high oleic sunflower last week. He says despite all the weather challenges and the late harvest, yields were above average.

Producers Encouraged to Contact Agents for Delayed Harvest

Producers who currently participate in Federal crop insurance and are experiencing a delay in harvesting their crop should contact their Approved Insurance Provider to file a Notice of Loss and request more time to harvest. Producers must file a Notice of Loss and request more time to harvest before the end of the insurance period, so that Federal crop insurance claims are settled based on the amount of harvested production. The end of the insurance period for sunflower is November 30. Click here to see more  information on requesting assistance due to delayed harvest.

USDA to Survey County Row Crops Acreage and Production

The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) will survey producers in 41 states, including North Dakota, as part of its County Agricultural Production Survey (CAPS). The survey will collect information on total acres planted and harvested, and total yield and production of row crops down to the county level. The data provided by producers will help federal and state programs support the farmer. Within the next few weeks, NASS representatives will contact selected growers to arrange telephone or in-person interviews to complete the survey. Survey results will be published on the NASS Quick Stats database, quickstats.nass.usda.gov/.

Upcoming Events

December 10-11, 2019 – Ag Horizons, Pierre, SD  December 12, 2019 – High Plains Committee Meeting, Goodland, KS January 8-9, 2020 – NSA Research Forum, Holiday Inn, Fargo, ND  June 23-25, 2020 – NSA Summer Seminar, Spearfish, SD

Markets

High moisture seed and cold weather continues to hamper harvest progress in the largest production area of the Dakotas and Minnesota remaining behind the five-year average pace.  In the High Plains, harvest is close to wrapping up and ahead of normal. In the past week, producers harvested an additional 104,000 acres pushing 2019 harvested acres to about 688,000 acres. This represents 56% of this year’s projected harvested acres and is behind the five-year average of 89%. The slow harvest deliveries have led to a market rally in nearby prices at the crush plants. November prices have gained 20 to 40 cents per cwt. 2020 new crop prices have seen some upward movement as well gaining 20 to 30 cents. Something else to consider is the oil premiums that crush plants pay on sunflower. 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 contract with 45% oil content gross return 10% higher per cwt. The AOG $17.50 contract increases to $19.25 and the cash $18.50 contract moves up to $20.35. Going forward, harvest progress, yield and crop quality will be key to prices. Until a deal is announced U.S.-China trade negotiations will also affect price movement in the near term.

Weekly Prices Recorded on Monday, November 25, 2019 ($/CWT)   Deliver Last Year Last Week This Week Change 2019 NEW Crop Chicago Oil Nearby 26.96 30.64 30.44 -.20 31.85 Fargo, ND NuSun 16.70 18.20 18.20 NC 17.90 Fargo, ND High Oleic NQ 18.60 18.60 NC 18.40 Enderlin, ND NuSun 16.55 18.10 18.20 +.10 18.00 Enderlin, ND High Oleic 16.55 18.50 18.60 +.10 18.50 Goodland, KS NuSun 16.65 17.20 17.50 +.30 17.70 Goodland, KS High Oleic 17.75 18.40 18.50 +.10 18.85 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, November 25 2019 (dollars per 100 lb. internal U.S. location)   Last Year Last Week This Week Change Soybean Oil 26.36 30.14 29.34 -.80 Cotton Oil (psby) 29.96 37.64 37.44 -.20 Corn Oil 30.00 29.00 29.00 NC