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Nearby NuSun and high oleic prices at the crush plants are unchanged this week. Overall, NuSun and high oleic prices continue to trade 65 to 75 cents per cwt. lower than the 60-day moving average at the ND crush plants. 2023 new crop was unchanged to up 50 cents. Sunflower harvest is getting closer to the finish line for this season. Very favorable weather conditions in the past week allowed sunflower producers to make good harvest progress. Due to technical issues USDA did not release updated harvest results this week. As of last week, harvest progress was about a week ahead of normal and advanced to 95% complete for the week with 2022 harvested acres at about 1,471,190 acres. Last year at this same time about 95% of acres were harvested. Harvest progress remains ahead of the five-year average of 87%. Crop quality remains very good, and yields have been above expectations in most cases. With the Black Sea grain corridor agreement extension in place, upcoming crop progress and weather conditions in South America will be a more important market feature. Traders are expecting a record breaking Brazilian soybean crop which is nearly finished being planted. The trade is also monitoring the potential for a rail workers strike. The U.S.’s largest rail workers union struck down a vote on a deal with railways. This raises the risk that a rail workers strike could be imminent and could shutdown grain and fertilizer supplies.
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