Sunflower Highlights

Post Date: May 08 2017

Sunflower is an Option for Damaged Wheat Acres

Producers who had winter wheat damaged by the recent snowstorm and freezing temps in the High Plains can consider planting sunflower if the first crop is ‘zeroed out’. The USDA Risk Management Agency will allow a second crop to be planted and insured on non-irrigated ‘zeroed’ acres if the wheat has not reached the headed stage. If the wheat was in the headed stage, you could still plant sunflower but cannot insure it. For irrigated acreage, sunflower can be planted and insured following a failed wheat crop regardless of the developmental stage of the failed wheat if it is irrigated and insured as an irrigated crop. 2017 new crop cash and Act of God contracts are still available for sunflower. Contact your local insurance agent to check out this option.

Reminder About Stored Seed

Producers who have stored seed are reminded to keep a close eye on seed moisture. It is a good idea to have bins probed and tested regularly to protect your investment.

Registration is now open on our website for the 2017 NSA Summer Seminar. This year’s Summer Seminar is the 35^th 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.

Markets

Sunflower prices gained some ground in the past week following the soyoil contract rally on the CBoT. Old and new crop prices were up 10-30 cents this week. Ample supplies and strong deliveries by producers has kept the pipeline full at the crush plants keeping a lid on a stronger rally. CBoT soyoil contracts rallied on talk that the US may announce a decision on the biodiesel anti-dumping case and new biodiesel taxes. Some feel this will lead to more US soyoil use for biodiesel and could drop US 2016/17 soyoil carryout to closer to 1,300 million pounds versus USDA’s estimate of 2,122 and would reduce 2017/18 carryout near 1,000 million pounds. The big South American soybean continues to get bigger with each report. This week the latest private estimates for the Brazilian crop are closer to 112-114 MMT than the USDA estimate of 111 MMT. USDA will update their estimate this week. There is still a perception the cold, wet conditions in the Midwest could delay corn planting and shift some acres to soybeans. The amount of switching would depend on how many acres had nitrogen. US/World 2017/18 soybean supply outlook already looks burdensome and this would add to the stockpile. Weather and planting progress will remain the biggest short term question marks for traders and will guide the market in the week ahead.