Sunflower Highlights

Post Date: May 20 2024

Crop Progress - Monday, May 20, 2024

State	This Week	Last Week	Last Year	5 Year Average
North Dakota
Planted	19	NA	4	8
South Dakota
Planted	1	NA	2	4
Kansas
Planted	6	4	2	8
Minnesota
Planted	23	NA	21	29
Colorado
Planted	9	1	11	8
Texas
Planted	23	NA	27	18

Registration is open for our 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 tentative schedule too, as well as hotel information and more. Pre-registration will begin at $375 and golf at $130, so register early for the best price. A block of rooms has been reserved at the Radisson Duluth Harborview. To reserve your room, call 218-481-1185 Ext. 2 using the group code G9653258. The rate is $151.00 per night plus taxes. The block of rooms will expire on May 24, 2024. The program is being finalized and more information will be coming soon. Contact Tina Mittelsteadt at tinam@sunflowernsa.com with questions.

Markets

In the past week, old and new crop sunflower prices at the crush plants were unchanged. USDA recently released one of its most important World Agricultural Supply and Demand Estimates (WASDE) reports for the year. It gave the market the first look at global production, supply, and demand forecasts for the 2024/25 marketing year for several crops. Historically these are the fundamental figures that will largely dictate pricing for 2024 crops over the next year. Global sunflower production in 2024/25 is forecast to increase 1 percent from the previous year to 55.4 million metric tons (MMT). Reduced production is expected in Russia and Argentina. Increased production is estimated for Ukraine, Turkey as well as the European Union. Russia is expected to remain the world’s largest producer, followed by Ukraine and the European Union. Global sunflower seed stocks are expected to decline, largely due to a decrease in Russian stocks from the previous year. Global crush remains unchanged from the previous year, with decreases in Ukraine and Argentina offset by increases in Russia and the European Union. Global sunflower oil consumption is projected down slightly due to lower consumption in the European Union and India. Sunflower oil stocks are forecast to fall from record levels in 2022/23, with reductions in India and Russia offsetting growth in European Union stocks. Sunflower oil exports are also expected to drop, driven by large reductions for Argentina and Turkey. India and the European Union are projected to experience the largest decrease in imports.

USDA to ask about 2024 Crops and Stocks

During the next few weeks, USDA’s National Agricultural Statistics Service (NASS) will conduct two major inquiries, contacting producers from across the United States to determine crop acreage and stock levels as of June 1, 2024. Data for the June Agricultural Survey are gathered via the Internet, mail, or by phone interview. For the June Area Survey, trained National Association of State Departments of Agriculture (NASDA) enumerators representing NASS visit select tracts of land to interview the operators of any farm or ranch within that selected tract. Producers are asked to provide information on planted acres, acres expected to be harvested, and grain stocks. NASS will publish the results in a series of USDA reports, including the Acreage and Grain Stocks reports, on June 28, 2024. These and all NASS reports are available online; visit www.nass.usda.gov/Publications to see the reports.

NSA Website Provides Helpful Information for Producers

Have questions about growing sunflowers? You’ll find the answers to your questions on our website! Visit www.sunflowernsa.com and click on the “Growers” section – you will find answers to frequently asked questions there as well as links to more information about many important topics, including approved chemicals, production, marketing, crop insurance and more.

Upcoming Events

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

Markets at a Glance

Weekly Prices Recorded on Monday, May 20, 2024 ($/CWT)

	Deliver	Last Year	Last Week	This Week	Change	2024 NEW Crop
Chicago Oil	Nearby	48.77	44.52	46.32	+1.80	47.09
West Fargo, ND	NuSun	19.60	NQ	NQ	NC	NQ
West Fargo, ND	High Oleic	20.10	13.75	13.75	NC	19.00
Enderlin, ND	NuSun	19.75	14.50	14.50	NC	NQ
Enderlin, ND	High Oleic	20.25	15.00	15.00	NC	19.00
Lamar, CO	High Oleic	22.25	16.00	16.00	NC	20.00

U.S. CRUDE OIL VALUES recorded on Monday, May 20, 2024
(dollars per 100 lb. internal U.S. locations)

	Last Year	Last Week	This Week	Change
Soybean Oil	53.77	48.15	49.32	+1.17
Cotton Oil (pbsy)	93.77	70.15	71.32	+1.17
Corn Oil	73.00	57.00	55.00	-2.00

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.

NSA is an equal opportunity provider and employer. Anyone requesting special accommodation should notify NSA within a reasonable timeframe. NSA will accommodate reasonable requests.