We are in the price discovery process for 2024 crop insurance price elections. With only two days in the books, oil type sunflowers are at $23.50, and confections are $28.40 per cwt. These prices are lower than last year. Corn, soybean, and spring wheat prices are also presently lower than where they were last year at this same time. Currently, projected prices are not known, as February is just beginning. However, current futures levels provide reasonable indications of 2024 projected prices. To follow sunflower price election trends, watch the 2024 CBoT December soyoil contract through February 29. Final price elections will be announced in early March. In the sunflower market, nearby old crop prices followed the downward trend in oilseed complex prices and ended the week 40 cents to $1.00 lower at the crush plants. 2024 new crop prices for high oleics were down 25 cents to unchanged. On the CBoT, traders are squaring positions ahead of the next World Agricultural Supply and Demand Estimates (WASDE) report from USDA. In the week ahead CBoT traders will be keeping tabs on South American weather conditions and the latest USDA yield and production forecasts. Some market analysts think the market is acting like another big crop is coming in South America, regardless of what forecasters predict. They believe that to see a significant 2024 price upside, the world would need to see weather related supply shortages develop this year.