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Sunflower Highlights

Post Date: Jan 08 2024

2024 NSA Research Forum is this week

The National Sunflower Association’s 46th annual Sunflower Research Forum starts Wednesday, January 10. Researchers from the U.S. Department of Agriculture, North Dakota State University, South Dakota State University, and University of Nebraska will present their findings on sunflower studies they have conducted. Topics will cover everything from diseases, insects, weed control, blackbirds, and more. The forum is set for January 10-11 at the Holiday Inn in Fargo, ND. This is an annual event designed to learn about research, promote discussion and stimulate creative thinking. It’s not too late to attend; you can register at the door on Wednesday morning! Visit: 2024 NSA Research Forum (sunflowernsa.com) for more information.

Nuseed to host Sunflower University

Mark your calendars! Bringing together the latest innovations and research to the sunflower community, Nuseed will be hosting Sunflower University Production Academy, in-person and virtually, February 15th at the Bismarck Hotel & Convention Center, 800 S 3rd St in Bismarck, ND. This workshop will focus primarily on in-season production topics for a successful crop. Speakers will present from 9:00 am – 12:00 pm CST. For more information about Sunflower University Production Academy and to register, scan the QR code.

Markets

Sunflower prices were mixed at the crush plants last week. Nearby prices were unchanged to down $1.25 per cwt. 2024 new crop high oleic contracts were unchanged to up 50 cents. 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 $20.00 contract increases to $22.00. On January 12, the USDA will issue an important monthly USDA report which will include updated US and World Supply and Demand tables, US Winter Wheat plantings, and Quarterly Stocks. In the report USDA will release its latest estimate of 2023/24 US and global sunflower production. In December, USDA estimated global sunflower seed production at 56.8 million metric tons, up eight percent from 2022/23. Higher production in Ukraine and Russia is the leading factor for the increase. Ukrainian and Russian sunflower production estimates remain murky due to the ongoing war, but production is anticipated to be around eight percent higher than 2022. The European Union, Argentina, Turkey, and United States are expected to have decreased production versus last year. On the CBoT, trading has been driven by positioning ahead of this week’s USDA reports, stronger dollar, demand news and El Nino weather conditions in South America.

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