Sunflower markets

Nearby prices were mixed this week down 75 cents to up 30 cents. New crop was down 60 cents to unchanged. New crop prices are trading in a range of $20.85 to $22.55 cash with AOG at $20.85 to $22.90 at the crush plants.

Something else to consider when looking at new crop prices are the oil premiums that crush plants pay on sunflowers. Considering oil premiums that are offered at the crush plants on oil content above 40% at a rate of 2% price premium for each 1% of oil above 40%; this pushes a contract with 45% oil content gross return 10% higher per hundredweight. The AOG $20.85 contract increases to $22.95, and the cash $22.55 contract moves up to $24.80.

Sunflower planting continues in all states and is ahead of last year in Colorado, Minnesota, North and South Dakota. Kansas is slightly behind last year at this same time. In the past week, producers made excellent progress and planted an additional 159,000 acres pushing 2023 planted acres to about 550,000 acres. This represents 42% of this year’s projected planted acres and is slightly ahead of the five-year average of 41%. Last year at this same time only 31% of total projected acres were planted. In the next two weeks weather conditions are expected to be favorable for planting with above normal temperatures and below normal precipitation. Sunflower planting should pick up speed as growers across the U.S. finish sowing activities.