Sunflower Highlights

Post Date: Jun 03 2024

Crop Progress - Monday, June 3, 2024

State	This Week	Last Week	Last Year	5 Year Average
North Dakota
Planted	50	28	38	44
Emerged	NA	NA	13	14
South Dakota
Planted	27	7	37	28
Kansas
Planted	21	16	15	25
Minnesota
Planted	62	50	85	70
Colorado
Planted	27	19	33	25
Texas
Planted	47	39	57	53

Broyaka to Address Current Trends & Prospects in Black Sea Agricultural Markets

Dr. Antonina Broyaka, Kansas State University, Department of Agricultural Economics, will give a presentation with the latest information on the situation for agricultural markets in Ukraine and the Black Sea area at the Summer Seminar in Duluth, MN on June 26. Following the Russian invasion of Ukraine, Dr. Broyaka moved to the United States. She is conducting research activity on the economic impact of Russian military aggression on Ukrainian agriculture, world grain markets and global food security. Ukraine continues its daily fight both on the battlefields for its own land and in the agricultural fields for a new harvest. Despite military actions, Ukraine continues to sow and export agricultural products. However, Ukrainian farmers are facing significant challenges, which may cause reductions in production and, accordingly, exports. At the same time, Russia is increasing its influence on grain markets. Don’t miss this informative session at the Summer Seminar.

Markets

Old crop sunflower prices were unchanged to up 20 cents with new crop unchanged this week. October new crop prices are trading in a range of $17.00-$17.25 cash with AOG at $19.00-$20.00 at the crush plants. Deferred new crop contracts are offering premiums above these prices. Something else to consider when looking at new crop prices are the oil premiums that crush plants pay on sunflowers. 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. Sunflower planting continues in all states and is slightly ahead of the five-year averages in Colorado and North Dakota. Kansas, South Dakota, Texas, and Minnesota are slightly behind the five-year average planting pace. In the past week, producers made excellent progress and planted an additional 176,500 acres pushing 2024 planted acres to about 361,500 acres. This represents 40% of this year’s projected planted acres and is ahead of the five-year average of 34%. Last year at this same time 37% of total projected acres were planted. In the next two weeks weather conditions are expected to be favorable for planting with above normal temperatures and below normal precipitation. Sunflower planting should pick up speed as growers across the U.S. finish sowing activities.

Registration Continues for 2024 NSA Summer Seminar

Registration continues for the 2024 NSA Summer Seminar, scheduled for June 25-27, 2024. This year’s Summer Seminar will be held in Duluth, Minnesota. You can register on our website – go to 2024 NSA Summer Seminar (sunflowernsa.com). You’ll find our schedule as well as hotel information and more. The program has been finalized and is on the website. Registration is $400 and golf at $160 and will increase at the door. To make your hotel reservation, call 218-481-1185 Ext. 2. Contact Tina Mittelsteadt at tinam@sunflowernsa.com with questions.

Plenty of Time to Plant Sunflowers

As the optimal planting window is closing on some crops, there is still time to take advantage of the market opportunities that sunflowers can offer. Seed supplies are still plentiful and there is still time to place an order to put in some acres this growing season. Sunflowers can be planted until late June in the Dakotas. The final planting dates for crop insurance purposes for sunflower vary by state and county. In North Dakota it is either June 10 or 15; South Dakota is June 15 or 20 and all of Minnesota is June 10. After these dates, the coverage is reduced by only 1 percent per day. The actual final date that sunflowers can be planted is anywhere from 20 to 25 days after this date depending on the county. To find the final planting date by county use this link: Crop Insurance (sunflowernsa.com)

Upcoming Events

June 25-27, 2024 - NSA Summer Seminar; Duluth, MN

Markets at a Glance

Weekly Prices Recorded on Monday, June 3, 2024 ($/CWT)

	Deliver	Last Year	Last Week	This Week	Change	2024 NEW Crop
Chicago Oil	Nearby	49.26	45.52	44.14	-1.38	44.80
West Fargo, ND	NuSun	18.80	NQ	NQ	NC	NQ
West Fargo, ND	High Oleic	19.30	16.00	16.00	NC	19.00
Enderlin, ND	NuSun	18.95	15.15	15.15	NC	NQ
Enderlin, ND	High Oleic	19.45	15.80	15.80	NC	19.00
Lamar, CO	High Oleic	20.50	16.00	16.20	+.20	20.00

U.S. CRUDE OIL VALUES recorded on Monday, June 3, 2024
(dollars per 100 lb. internal U.S. locations)

	Last Year	Last Week	This Week	Change
Soybean Oil	54.26	48.52	47.14	-1.38
Cotton Oil (pbsy)	94.26	70.52	69.14	-1.38
Corn Oil	73.00	55.00	55.00	NC

Prices recorded here are believed to be reliable at the time of posting. Individual companies have the right to correct any errors that may occur. Contact these facilities for complete market details.

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