Nearby NuSun and high oleic prices at the crush plants are unchanged this week. The sunflower harvest is getting closer to the finish line for this season. Very favorable weather conditions in the past two weeks have allowed sunflower producers to make good harvest progress.
Acres harvested advanced 9% to 87% complete for the week ending November 26. In the past week, producers harvested an additional 100,600 acres pushing 2023 harvested acres to about 1,040,000 acres. Last year at this same time about 98% of acres were harvested. Harvest progress remains ahead of the five-year average of 84%.
Crop quality remains very good, and yields have continued to be above expectations in most cases. The oil content of the 2023 crop might be the highest ever with much of the crop exceeding 45% oil content. There have been reports of some fields averaging above 50% oil content.
Sunflower is the only oilseed that pays premiums for oil content above 40%. 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. With harvest wrapping up in the Northern Hemisphere, upcoming crop production estimates and weather conditions in South America will be more important market features to watch.
For more sunflower news, visit sunflowernsa.com/.
