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SUN AND SOY PRICES DIVERAGE
3/10/2010
New crop 2010 prices between sunflower and soybean began to differentiate in mid-December and accelerated in January-February. The attached chart compares new crop sunflower and soybean prices at one location in Enderlin ND. The market dynamics for sunflower are much more positive than soybean going into the 2010 crop year and the market has easily identified that. The soybean market is clouded with a large South American crop now being harvested while the world sunflower market is seen a sharp downturn in production in the Black Sea region and Argentina. That has already resulted in U.S. exports of sunflower oil to some unusual places like Egypt and Morocco. That is likely to continue over the next six to nine months as world sunoil supplies get tight.
Click the link below to see the chart.
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