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After a slip in June, sunflower prices bounce up in July

After a slip in June, sunflower prices bounce up in July

Sunflower

After reaching highs of around $28 per hundredweight in early June, sunflower prices slipped by about $2 by the end of the month. But in the first week in July, producers saw prices had rebounded some.

“The sunflower market continued to claw back recent losses this week. Nearby prices increased 95 cents to $1.95 per hundredweight,” commented John Sandbakken, executive director of the National Sunflower Association, writing in NSA’s weekly newsletter on July 6. “New crop NuSun and high-oleic gained 95 cents to $1.35.”

Looking at prices at the region’s crush plants, as of July 6, the price at the Cargill crush plant in West Fargo, N.D., for NuSun sunflower was listed at $28 per hundredweight for delivery in July and $27 for delivery in August. For 2021 new crop NuSun sunflower Cargill was offering $26.75 cash.

At the ADM crush plant in Enderlin, N.D., the July delivery price for NuSun sunflower was $27.40 per hundredweight, and for delivery in August the price was $26.40. Enderlin was offering $26.30 cash for new crop NuSun and $25.80 with an Act of God (AOG) clause.

High-oleic sunflower prices were $28 for delivery in July and $27 for delivery in August at Cargill in West Fargo, and new crop high-oleic was listed at $27.25 cash.

At Enderlin, the high-oleic price was $27.40 for delivery in July and $26.40 for delivery in August. New crop high-oleic cash price was listed at $26.80, and with an AOG the price was $26.30.

Elsewhere in North Dakota, new crop high-oleic prices were listed at $26.70 cash at Pingree, and $25.90 cash at Hebron.

In other news, USDA released its final planted acres report on June 30. In the report, USDA listed final area planted to sunflower in 2021 at 1.38 million acres. That’s a decline of 20 percent from last year. Because there were fewer acres planted this year compared to last, harvested acres are also expected to decrease 21 percent from last year to 1.31 million acres.

The report also indicated that planted area of oil type varieties totals 1.25 million acres – a decline of 16 percent from 2020. Harvested area is expected to decrease 17 percent from last year to 1.19 million acres.

At an estimated 130,000 acres, planted acreage of non-oil varieties in 2021 is down 43 percent from 2020. Again, because of fewer planted acres, harvested area is expected to decrease 43 percent from last year to 120,500 acres.

“On the plus side, planted acres were 13 percent higher than the agency’s March estimate of 1.22 million acres, a difference of 160,000 acres,” Sandbakken noted. “Compared with the March planting intentions report, growers added 167,000 oil type acres with confection plantings losing only 7,000 acres.”

According to the final planted acres report, the state with the largest increase from the March planting intentions report is North Dakota, where planted area increased by 122,000 acres compared with March figures.

“Growers in five of the eight major sunflower-producing states increased sunflower acreage since the March outlook was released. With the release of the USDA report, the key to oilseed prices going forward will be U.S. summer weather and demand news,” he concluded.

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