Old and new sunflower crop prices remain unchanged

The trade talks between the U.S. and China fell flat a week ago with no breakthrough as more tariffs kicked in. Both sides have now officially imposed $50 billion in tariffs and the U.S. is in the middle of open hearings regarding another $200 billion in tariffs being put into play at some point in September. Traders are concerned in how China might respond to Washington’s proposed next round of tariffs on a further $200 billion of Chinese imports. Many within the trade are thinking things could get much more intense during the next couple of weeks and without an U.S. and China trade resolution could push prices lower. Last week’s Pro Farmer Tour did not find any problems with the U.S. soybean crop and could give support to USDA’s record crop estimate. Pro Farmer estimated the U.S. soybean yield near 53.0 bushels per acre versus USDA at 51.6. It seems as if wave after wave of bearish headlines are hitting the market right now. For the most part, sunflower prices have remained steady the past few weeks. Last week old and new crop prices were unchanged at the crush plants. In most areas the sunflower crop continues to develop 10 to 14 days ahead of the five-year average pace. This has led some producers thinking of desiccating their sunflowers to begin drydown for harvest.