Traders remain focused on Northern Hemisphere planting weather, Chinese buying interest, and the pace of farmer sales amid an ever-increasing world soybean stockpile. Canadian farmers intend to plant their biggest-ever canola area, exceeding trade expectations, according to Statistics Canada's first report on seeding for the year; Canola plantings looked set to reach 22.4 million acres, up 10 percent from last year, and surpassing the average trade estimate of 21.3 million acres. On the CBoT, soyoil gained on talk Argentina and Indonesia biodiesel exports to the US could soon drop due to an antidumping petition with US Dept of Commerce and US International Trade Commission. Old and new crop sunflower prices have been relatively firm at unchanged to up 20 cents in the past week. There is still time to take advantage of the market opportunities that sunflowers can offer as crushing plants are still offering Act of God (AOG) and cash new crop contracts. NuSun and high oleic sunflower prices beat out most crops, when you add in the oil premium paid at the crush plants.
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 $16.50 contract with 45% oil content gross return 10% higher per cwt and would raise the cash price to $18.15. An AOG contract at $16.00 per hundredweight to $17.60.