Sunflower Highlights

Post Date: Mar 29 2021

North Dakota Oilseed Council Election Results

North Dakota sunflower producers Clark Coleman and Myron Dieterle have been re-elected to the North Dakota Oilseed Council and the NSA Board of Directors. This is Coleman’s fourth three-year term, representing District 4, which includes the North Dakota counties of Burleigh, Emmons, Kidder, Logan, McIntosh, and Stutsman Counties. Dieterle was re-elected to his third three-year term in District 5, which includes the counties of Benson, Eddy, Foster, Pierce, Rolette, Sheridan, Towner, and Wells.

Syngenta plans renovation of Greensboro campus

Syngenta will redevelop its North American Crop Protection headquarters at its current campus on Swing Road in Greensboro, N.C. The company intends to construct a more than 100,000 square-foot office building to connect with its existing laboratory facility on the north side of the 70-acre campus. Plans also include a complete renovation of the lab facilities. The new workspaces will support about 650 employees and 100 contract workers. Construction is expected to begin on the new building later in 2021; the entire project will take about three years to complete.

2020 Crop Quality Report Available Online

The 2020 U.S. Crop Quality Report is now available on the NSA website. To view the report, follow this link to our website: U.S. Sunflower Crop Quality Report (sunflowernsa.com) The U.S. Sunflower Crop Quality Report is produced annually by the National Sunflower Association. The report contains useful information about sunflower acreage and production, confection and oil-type seed quality, mid-oleic and high oleic oil quality analysis and oil traits, product specifications, oil trading rules, statistics on marketing the crop. world and U.S. supply and demand tables, sunflower oil and meal exports for the United States and other related topics of interest to those in the industry.

Markets

Decreasing U.S. soyoil stocks and the expectation of Malaysia’s palm oil exports pulling back in 2020/21 to the lowest level since 2017 had pushed CBoT soyoil futures to new market highs. Adding a further boost to the recent price surge was the current push by the Biden administration to implement using more green fuel in vehicles. Traders thought this would likely keep vegetable oil demand and prices high in the near term, especially with tight supplies and strong export demand in place. However, that was not the case as a strong market correction to the downside in global vegetable oil prices led to losses in CBoT soyoil contracts last week. Seed prices at the crush plants had followed the rise in vegetable oil prices setting market highs as well. The sharp drop in oil values led to nearby NuSun prices shedding 80 to 90 cents with high oleic mixed at down 90 to up 30 cents. After the dust settled, new crop oil sunflower prices remained higher than a year ago at this same time with oil crushers still offering Act of God and cash contracts. Last year new crop prices were $17.75-$17.90 for NuSun with high oleic at $18.00-$18.15. This week new crop NuSun cash prices are in a range of $22.00-$22.05 up $4.10-$4.30 per cwt. with high oleic at $22.40-$22.50 which is $4.25-$4.40 per cwt higher versus last year. Main market movers this week will be USDA planting intentions, and the quarterly stocks estimates.

Updated Elevator Lists for Colorado & Kansas

If you are looking for places to sell oil-type sunflowers in the High Plains, we have just updated the list of elevators in Colorado and Kansas that purchase oil-type sunflowers on the NSA website. To view the revised lists, use this link: Elevators (sunflowernsa.com)

USDA announces additional CFAP assistance

USDA has announced plans for the additional round of Coronavirus Food Assistance Program (CFAP) and related assistance. The updates include reopening of CFAP2 and additional payments for row crop producers. Producers of crops in the CFAP2 Flat-rate and Price-trigger categories (sunflowers are in this category) with acreage reports will use acreage and yield information provided by FSA through the annual acreage reporting process. Producers will have the option to complete or modify their application by working directly with their local Farm Service Agency or online through the CFAP2 Application Portal once signup opens on April 5. Additional payments will be equal to the eligible acres of the crop multiplied by a payment rate of $20 per eligible acre. FSA will automatically issue payments to eligible producers based on the eligible acres included on their CFAP2 applications. Eligible producers who have already applied for CFAP2 do not need to submit a new application to receive this payment.

Upcoming Events

January 12-13, 2022; NSA Research Forum; Holiday Inn, Fargo, ND

Weekly Prices Recorded on Monday, March 29, 2021 ($/CWT)

	Deliver	Last Year	Last Week	This Week	Change	2021 NEW Crop
Chicago Oil	Nearby	26.87	56.37	52.96	-3.41	45.46
West Fargo, ND	NuSun	20.25	22.25	21.45	-.80	22.00
West Fargo, ND	High Oleic	20.65	23.25	22.40	-.85	22.40
Enderlin, ND	NuSun	20.30	22.50	21.60	-.90	22.05
Enderlin, ND	High Oleic	20.50	23.25	22.35	-.90	22.50
Lamar, CO	High Oleic	NA	22.00	22.30	+.30	22.50

U.S. CRUDE OIL VALUES recorded on Monday, March 29, 2021
(dollars per 100 lb. internal U.S. location)

	Last Year	Last Week	This Week	Change
Soybean Oil	26.27	68.37	64.96	-3.41
Cotton Oil (psby)	35.87	91.37	87.96	-3.41
Corn Oil	39.00	79.00	79.00	NC

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.

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