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You Are Here Growers > Marketing > Week in Review




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February 8, 2016



2016 CROP INSURANCE PRICES

On February 1, the USDA Risk Management Agency (RMA) began the discovery process in determining 2016 crop insurance price elections for sunflowers. Producers have the option of choosing Yield Protection, Revenue Protection and Revenue Protection with the Harvest Price Exclusion. All three policies have the same price election. To follow the direction for sunflower price elections, watch the 2016 CBoT December soyoil contract during the month of February. Final price elections will be announced in early March.


SUNBUTTER® ANNOUNCES NEW ROASTING PROCESS

SunButter® LLC is now dry roasting sunflower kernel on new top of the line roasting equipment. SunButter® Sunflower Butter will now be produced in one continuous process from field to table that will ensure a fresh roasted flavor, improved product consistency, and a finished product that is free from all of the top eight food allergens. SunButter® produced on the new equipment will arrive on store shelves in the spring of 2016 and the packages will carry a "Now Soy Free" burst. For more information, visit www.SunButter.com.

UPCOMING ND COUNTY ELECTIONS

Growers are invited to attend elections in their county for the sunflower representative to the North Dakota Oilseed Council. Elections are being held in several areas this month. Here's a list by county:
  • Hettinger County
    February 9, 8:30 am - Enchanted Castle, Regent
  • Stark County February 9, 12:45 pm - Immanuel Church, Taylor
  • Adams County: February 16, 1:30 pm - Borderline Bar and Grill, Reeder
  • Pembina County: February 17, 9:00 am - Pembina County Courthouse, Cavalier
  • Williams County: February 17, 10:00 am - Williams County Extension, Williston
  • Sioux County: February 17, 1:00 pm - Branding Iron, Selfridge
  • Mountrail County: February 17, 2:00 pm - Mountrail County South Complex, Stanley
  • Ramsey County: February 18, 9:45 am - KC Hall, Devils Lake
  • Burke County: February 18, 11:30 am - American Legion, Powers Lake
  • Morton County: February 23, 1:00 pm - Morton County Fairgrounds, New Salem
  • McHenry County: February 22, 10:00 am - Star City Golf Course, Velva


FEBRUARY ISSUE OF THE SUNFLOWER IS ONLINE

Find the February 2016 issue of The Sunflower on our website, www.sunflowernsa.com/magazine. This issue includes the latest on insuring sunflower for 2016, how sunflower producers on limited irrigation can save the most water without hurting yields, and how a new Vermont company that's producing a selling cold-pressed sunflower and canola oil. Read all those stories and more in this month's issue of The Sunflower.

FEBRUARY IS AMERICAN HEART MONTH

This month is American Heart Month, a month dedicated to raising awareness about heart disease and prevention. It is the perfect time to add sunflower oil to your diet. Sunflower oil produced in the United States is naturally trans fat-free and is low in saturated fat. For more on the health benefits of sunflower oil, visit www.sunflowernsa.com/oil/.

NSA GOLD AWARD

Every year the NSA presents the Gold Award to an individual who has contributed extra-ordinarily to the overall sunflower industry, either through their occupation or through the National Sunflower Association. This award is considered to be the highest award that the NSA presents to individuals. The award has been given every year since 1989. Past Gold Award winners include John McLean, Larry Kleingartner, Duane Berglund, Senator Mark Andrews, and Chuck Moses. Nominations are now being accepted for the 2016 NSA Gold Award. Visit www.sunflowernsa.com/all-about/gold-award/ for the eligibility and criteria requirements. Nominations must be received by February 19. The NSA board of directors will review all submitted applications and chose a winner. The Gold Award will be presented during the NSA Summer Seminar, set for June 28-30 in Bismarck, ND.

NSA ON SOCIAL MEDIA

Make sure and like our Facebook page: www.facebook.com/sunflowernsa. We are also now on Twitter. Follow us at twitter.com/NatlSunflower.

UPCOMING EVENTS

May 29-June 3, 2016 - 19th Annual International Sunflower Conference, Edirne, Turkey
June 28-30, 2016 - 2016 NSA Summer Seminar, Bismarck, ND




MARKETS

Sunflower prices ended the week mixed. Old crop prices were down 5 to 10 cents while new crop was down 25 to up 20 cents at the crush plants. Sunflower prices are being supported by CBoT soyoil which continues to gain on soymeal with support coming from higher palm oil prices. Vegetable oil markets have trended higher on expectations for falling production of palm oil due to El Nino. Otherwise it is quiet in terms of market moving news. Some traders think prices have likely bottomed, and will do little until producers start planting the 2016 crop this spring. On Tuesday, USDA will release its latest Supply and Demand report.  There is talk that USDA could raise US 2015/16 corn, soybean and wheat carryout. Exports are lagging due to slow demand and this could build stocks further. February is the critical development month for oilseeds in South America. South American weather is mostly favorable with rains due in Argentina. Talk of better Brazil weather could increase harvest pace there. The USDA S/D report, South American weather and crop progress will be the main market movers in the week ahead.


Weekly Prices Recorded on Monday, February 8, 2016 ($/CWT)
  Deliver Last Year Last Week This Week Change 2016 New Crop
  Chicago Oil          
  Nearby 32.01 30.76 30.75 -.01 31.37
  Fargo, ND          
  NuSun 19.10 16.70 16.65 -.05 17.00
  Enderlin, ND          
  NuSun 19.05 16.80 16.70 -.10 16.80
  Goodland, KS          
  NuSun 19.85 16.45 16.35 -.10 16.45


US CRUDE OIL VALUES
recorded on Monday, February 8, 2016
(dollars per 100 lb. internal U.S. location
  Last Year Last Week This Week Change
Soybean Oil 31.51 29.01 28.75 -.26
Cotton Oil (pbsy) 47.01 45.76 45.75 -.01
Corn Oil 36.50 42.00 42.00 NC
Prices recorded here are believed to be reliable at the time of publication. Individual companies have the right to correct any errors that may occur. Contact these facilities for complete market details


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