Sunflower prices remain firm

2018 new crop prices for oil sunflower saw upward movement a week ago adding 30 cents per hundredweight in some locations. New crop prices are in range of $17.20 to $18.15 for NuSun with High Oleics at $17.50 to $18.35 at the crush plants. Crush plants are offering cash and Act of God contracts for fall delivery. Most fundamental news for oil has been negative lately putting CBoT soybean oil contracts on the defensive. The cold weather in the U.S. this winter has driven crush demand for soybean meal and pressured CBoT soyoil contracts as oil stocks have started to build. Market analysts think this trend will reverse into the spring and summer months with oil prices strengthening as meal demand tapers off. Overall nearby sunflower prices have remained relatively firm and not followed the recent negative trend in oil values. A smaller 2017 U.S. sunflower crop and good demand are supporting seed prices. Old crop prices were mixed this week at down 10 cents to up 25 cents. The price election for oil type sunflowers is expected to be around $17.50 with confections at $23.70 per hundredweight. Final price elections will be announced soon. In the week ahead, U.S. export demand news and South American weather will continue to be the main market movers.