Old and new sunflower seed price hold steady

Old and new crop seed prices were unchanged a week ago. Nearby seed prices have started to trade above the 60-day moving average at the crush plants. Sunflower harvest could be starting soon in the Northern Plains as many acres have matured to a point where they can be desiccated and harvested. Getting the crop harvested several weeks early can result in higher yields and lower drying costs. It can also reduce late season crop damage and blackbird damage. The U.S.-China trade war continues to stay on the minds of traders. Both sides have now officially imposed $50 billion in tariffs and the US is looking at another $200 billion in tariffs being put into play at some point this month. 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. In addition to watching weather forecasts, Chicago Board of Trade traders are anxiously awaiting the next series of USDA reports that will be released this week. Traders will be looking for USDA to confirm recent private crop estimates. Average trade estimates for US 2018 soybean crop production and carryout are both higher than USDA’s August figures.