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Sunflower Highlights

Post Date: Mar 04 2024

NSA Board Members Go to Washington, DC

Several members of the National Sunflower Association’s board of directors recently visited Washington, DC. Members made visits to members of Congress from Colorado, Kansas, Minnesota, North and South Dakota about the upcoming Farm Bill and Fiscal Year 2025 appropriations. In addition, the group met with officials from the USDA APHIS/Wildlife Services to discuss blackbird depredation concerns and USDA Agricultural Research Service regarding research needs.

High Plains Sunflower Production Meetings

High Plains sunflower production meetings will be held on Tuesday March 12 at the Fourwinds Golf Course, 958 Hwy 56, Hugoton, KS and Wednesday March 13 at the Burlington Community Center, 340 S. 14 th St, Burlington, CO. Times at both sites will be from 1:00 pm to 3:00 pm. Topics will include Sunflower weed control strategies, Insect and disease strategies, Market updates, and Controlling weeds with robots. Register online at www.northwest.ksu.edu/events or by contacting Ron Meyer at (719) 346-5571. The meetings are free of charge and will be available in-person or via Zoom. CCA credits will be available for attendees.

Markets

Nearby prices were unchanged to up 50 cents with new crop prices unchanged last week at the crush plants. RMA has calculated crop insurance prices for spring crops. Spring insurance prices followed the market lower the past month and have fallen from last year for all major crops. The corn projected price for 2024 revenue protection policies is 27% lower than last year at $4.66 per bushel, while the soybean projected price is 16% lower at $11.55. The projected price for spring wheat is $6.85, 30% lower than last year. On the sunflower side, the projected price is 22% lower than last year at $23.80 for oil-type sunflower and 12% lower for confection sunflower at $28.80. At these lower prices, the good news is that crop insurance will be less expensive this year. The bad news is it's not giving as much protection for financial losses in the case of yield loss or severe declines in commodity prices. Traders are anxiously awaiting USDA’s release of its Prospective Plantings Report on March 28. Trade expectations about planted acreage will likely be in a wide range before the report is released. After the release of the report, North American weather conditions and 2024 U.S. oilseed crop prospects will progressively become a more important factor in price. Until the report is out South American weather and crop production estimates along with the acreage debate should dominate the direction the market takes.

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