Sunflower Highlights

Post Date: Nov 20 2023

Crop Progress - Monday, November 20, 2023

State	This Week	Last Week	Last Year	5 Year Average
North Dakota
Harvested	72	59	94	77
South Dakota
Harvested	80	72	96	77
Minnesota
Harvested	93	92	99	92
Colorado
Harvested	96	92	88	89
Kansas
Harvested	90	87	92	89
Texas
Harvested	100	100	100	88

Seed Quality - Monday, November 20, 2023

High Plains	2023	2022	Northern Plains	2023	2022
Oil Content	38.6%	40.2%	Oil Content	45.4%	44.4%
Foreign Material	6.5%	6.1%	Foreign Material	4.0%	3.9%
Moisture	7.4%	7.2%	Moisture	9.1%	9.0%
Test Weight	28.6 lbs.	29.0 lbs.	Test Weight	30.7 lbs.	30.1 lbs.

USDA to collect 2023 crop production and stocks data

As the 2023 growing season comes to an end, the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) will contact producers nationwide to gather final year-end crop production numbers and the amount of grain and oilseeds stored on their farms. At the same time, NASS will survey grain facility operators to determine year-end off-farm grain and oilseed stocks. Responses to the survey will be used in calculating county-level yields, which have a direct impact on farmers. USDA’s Farm Service Agency may use the data in administering producer programs and in determining disaster assistance program calclations. All responses are completely confidential. Survey results will be published in several reports, including the Crop Production Annual Summary and the quarterly Grain Stocks report, both to be released on January 12. These and all NASS reports are available online at www.nass.usda.gov.

Markets

Tough field and road conditions after rain and snow events had slowed harvest in the Northern Plains. Fortunately, a pattern change in the past seven days to warmer and drier conditions has benefited the remaining harvest. Harvest progress advanced 9% to 78% complete for the week ending November 19. In the past week, producers harvested an additional 113,000 acres pushing 2023 harvested acres to about 937,500 acres. Last year at this same time about 94% of acres were harvested. Harvest progress is equal to the five-year average. Nearby prices at the crush plants were unchanged this week but are facing seed supplies that are burdensome at this time. Last year’s crop was huge and the 2023 yield is looking to be one of the best as well. Crop quality remains very good, and yields have been above expectations in most cases. Supplies are big despite smaller planted sunflower acres in 2023. The market needs time to use up the ample seed supply and this is being reflected in the significant price spread between nearby and deferred contracts. Given the current price scenario a good strategy may be to put the seed in the bin for now and look at delivering it down the road. Something else to consider is the oil premiums that crush plants pay on sunflowers. Add on the premium for oil content above 40% at a rate of 2% price premium for each 1% of oil above 40% when making marketing decisions.

Final export figures for 2022/23 marketing year released

The U.S. Census Bureau has released final export figures for the 2022/23 marketing year. Sunflower oil exports were down 41% from a year ago, from 56,242 metric tons (MT) to 33,002 MT from October 2022 to September 2023. Canada remains the top importer, importing 21,348 MT down 47% from a year ago. Mexico is the number two destination importing 4,999 MT during the period. Exports of sunflower kernel were down 22% from a year ago, from 4,078 MT to 3,163 MT from October 2022 to September 2023. Canada remains the top importer of U.S. sunflower kernel, importing 1,977 MT. In-shell exports decreased 22% from 18,126 MT to 14,220 MT from October 2022 to September 2023. Mexico was the top importer of in-shell sunflower, importing 5,612 MT with Spain a close second importing 4,005 MT during the period.

Grower Report

Lemmon, SD grower Lance Hourigan plans to start harvesting his 2000 acres of sunflower this week. He expects yields to be very good. He did notice that he had a little head rot and typical red seed weevil damage this year. The few inches of snow they received a couple weeks ago has melted and they have had very nice weather that has allowed him to finish harvesting corn last week.

Upcoming Events

December 5-6, 2023 - Ag Horizons Conference; Ramkota RiverCentre; Pierre, SD
January 10-11, 2024 - NSA Research Forum; Holiday Inn; Fargo, ND
June 25-27, 2024 - NSA Summer Seminar; Duluth, MN

Markets at a Glance

Weekly Prices Recorded on Monday, November 20, 2023 ($/CWT)

	Deliver	Last Year	Last Week	This Week	Change	2024 NEW Crop
Chicago Oil	Nearby	73.00	51.54	53.11	-1.57	49.85
West Fargo, ND	NuSun	25.75	NQ	NQ	NC	NQ
West Fargo, ND	High Oleic	27.00	16.50	16.50	NC	NQ
Enderlin, ND	NuSun	25.85	NQ	NQ	NC	NQ
Enderlin, ND	High Oleic	26.85	15.80	15.80	NC	NQ
Lamar, CO	High Oleic	28.00	17.20	17.20	NC	NQ

U.S. CRUDE OIL VALUES recorded on Monday, November 20, 2023
(dollars per 100 lb. internal U.S. locations)

	Last Year	Last Week	This Week	Change
Soybean Oil	79.50	55.04	56.61	-1.57
Cotton Oil (pbsy)	123.00	86.54	88.11	-1.57
Corn Oil	119.00	68.00	64.00	-4.00

Prices recorded here are believed to be reliable at the time of posting. All prices are subject to change. Contact these facilities for complete market details.

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