Sunflower Highlights

Post Date: Jun 04 2018

Sunflower planting in North Dakota is behind last year, but at 67 percent complete, ahead of the average for this time of the year. Meanwhile, producers in Minnesota report 90 percent of the sunflower crop there has been planted.

Crop Progress - Monday, June 4, 2018

State	This Week	Last Week	Last Year	5 Year Average
North Dakota
Planted	67	36	78	56
South Dakota
Planted	36	28	45	30
Kansas
Planted	36	16	17	18
Colorado
Planted	18	9	11	17
*Texas*
Planted	57	37	64	73
*Minnesota*
Planted	90	78	93	76

Grower Report

After last year’s drought and another dry spring this year, Dickinson, ND area producer Art Ridl was more than happy to receive rain last week. Ridl says totals varied from one inch to four and a half inches of rain last week on his land. The rain slowed his planting progress; Ridl says he is about half done planting 1,800 acres of sunflower. Of that, half are high oleics and half are NuSun.

Hafemeister to Speak at Summer Seminar

Trade is crucial to U.S. agriculture. So it’s important the U.S. remain a reliable supplier of consistent crops at competitive prices. Jason Hafemeister, the Trade Counsel to the Secretary at the U.S. Department of Agriculture (USDA), will talk about that at this year’s Summer Seminar. Hafemeister advises the Secretary and the Under Secretary for Trade and Foreign Agricultural Affairs on agricultural trade policy. Hafemeister is just one of many speakers who will present at this year’s Summer Seminar, set for June 26-28, 2018 at the Arrowwood Resort in Alexandria, Minnesota. Registration is now $350 and will increase to $400 at the door. Click here to register on our website. You'll also find the schedule of events there. Contact Tina Mittelsteadt with any questions.

Markets

Traders will be anxiously watch headlines regarding the delegation of leading US officials visiting China this week trying to negotiate a resolution to the ongoing US/China trade spat. Talk in the oilseed market has been dominated by headlines regarding US/China trade tensions. Price volatility for commodities caught in the crosshairs of the trade dispute could increase if the saber-rattling between the US and China intensifies. For the most part sunflower has stayed out of the trade fight and prices have remained firm or trended higher the past few weeks. Old crop prices ended the week unchanged to up 10 cents. Last year at this same time new crop NuSun prices were in a range of $14.70-$16.60 with high oleics at $16.70-$17.00. Looking at current new crop prices this represents an increase of $2.15-$3.00 for NuSun prices and $1.75-$2.15 for high oleics versus last year. 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 $18.90 contract would be $20.80 and $18.25 AOG contract goes over $20.00. With oilseed planting wrapping up, US weather and crop progress conditions will soon start to take on a much more prominent role.