Nearby and new crop sunflower prices were unchanged at the crush plants this week. Last week USDA released its first estimate of 2023 planted acres for all crops.
Compared with last year, oil-type acreage decreased in all eight major sunflower producing states. The states with the largest decrease from last year were North and South Dakota. Compared with last year, growers in five of the eight major sunflower producing states had increases or no change in planted acreage for non-oil varieties.
The largest increase compared with last year occurred in North Dakota, where planted acreage increased by 18,000 acres. Initial estimates using trend yields peg oil-type sunflower production at 1.9 billion pounds down 24% from last year with non-oil sunflower production at 263 million pounds up 10% from 2022. Now that the USDA planted acres report data is factored into the market, buyers will anxiously watch crop production prospects before making longer term purchases.
In October, USDA will provide its first official estimate for oil and non-oil sunflower production. Sunflower trading will be influenced to a greater extent by crop conditions and progress along with weather conditions in the near term. Currently weather conditions are mostly favorable for crop development in the Dakotas and Minnesota. Mid-August through September is the critical time frame for sunflowers. The latest USDA supply and demand figures will also guide market direction in the week ahead.
