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Sunflower prices rise along with other commodities

Sunflower prices rise along with other commodities

Sunflower

This late fall season is shaping up to be a good one for producers as several commodities are enjoying rallies in prices, including sunflowers.

“Nearby sunflower prices continue to follow the rally in the Chicago Board of Trade oilseed complex,” commented John Sandbakken, NSA executive director, commenting in the National Sunflower Association (NSA) Nov. 23 newsletter. “NuSun and high-oleic prices at the crush plants were up 5-10 cents. In the past two weeks, nearby prices have added 40-55 cents. “Overall, NuSun and high-oleic prices continue to trade 60 cents to $1 per hundredweight higher than the 60-day moving average at the crush plants,” he continued, adding that “2021 new crop also continued to move higher adding an additional 5-20 cents for the week.”

Looking at regional prices at the crush plants, as of Nov. 23, NuSun sunflower was listed at $18.60 per hundredweight at both Cargill in West Fargo, N.D., and ADM in Enderlin, N.D., for delivery in December.

Sandbakken also noted that 2021 new crop NuSun sunflower prices at West Fargo were listed at $18.80 cash and $18.50 with an Act of God (AOG) clause. NuSun new crop prices at Enderlin were listed at $18.75 cash and $18.25 with an AOG clause.

High-oleic prices at Enderlin were listed at $18.60 for delivery in December while West Fargo high-oleic prices were listed at $18.55. Also, new crop 2021 high-oleic prices were posted at $19 cash and $18.50 with an AOG at ADM in Enderlin, and $18.95 cash and $18.65 with an AOG at Cargill in West Fargo.

Sandbakken also pointed out that sunflower harvest was getting closer to the finish line for this season. Harvest is wrapping up in all reporting states with North Dakota reporting 95 percent of the sunflower harvest finished, well ahead of the five-year average of 79 percent. South Dakota was reporting 89 percent of this year’s sunflower harvest complete. That compares to the average of 82 percent.

“Very favorable weather conditions in the past week allowed sunflower producers to make good harvest progress,” he said, adding that harvest progress overall advanced 7 percent to 89 percent complete for the week ending Nov. 15.

“Harvest progress (overall) remains 14 percent ahead of the five-year average,” he said. “In the past week, producers harvested an additional 110,000 acres, pushing 2020 harvested acres to about 1,361,000 acres.”

Sandbakken also reported that the quality of this year’s sunflower crop remains very good and yields have been above average in most cases. He added that harvest progress remains about one week to 10 days ahead of the five-year average.

“Last year at this same time, only 44 percent was in the bin,” he said. “There continue to be reports of drought-related yield reductions in sunflower in the Black Sea region and a planted area reduction for Argentina.

“Given the location of the crop losses, this bears watching as international trade would assume much of the impact and could open some market opportunities,” he concluded.

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