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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.


SUNFLOWER PRODUCITON MEETING SCHEDULED

Texas A&M AgriLife and New Mexico State will host a sunflower program at Texline Community Center, 100 South 3rd Street, in Texline, TX, to discuss management, insects, hybrid trial results, and contracts. For further information, contact Dallam County agent Mike Bragg at (806) 244-4434 or mnbragg@ag.tamu.edu.

HIGH PLAINS WINTER CONFERENCES

Two long-running High Plains area conferences will be held in the next two weeks. No-Till on the Plains conference is this week, January 26-27, in Salina, KS. This is the 20th anniversary of the conference. For more information, go to www.notill.org. The Colorado Conservation Tillage Association's High Plains No-Till Conference in Burlington, CO is February 2-3. For details or to register, visit: www.highplainsnotill.com. The NSA's High Plains committee will be at both shows, and will give away one iPad per show, so if you attend, make sure you visit the High Plains booth.

2016 SD PEST MANAGEMENT GUIDES NOW AVAILABLE

The South Dakota 2016 Pest Management guides are now available for free. The guides provide recommendations for controlling weeds, insects and diseases in several crops, including sunflower. The guides have been completely updated for 2016.There are several new products that have new names and corresponding changes made to the labels such as: rates for the chemicals, rotation restrictions, additive rates, and products. The guides can be found at www.iGrow.org and at SDSU Extension Regional Centers.

MONITOR MOISTURE OF BINNED SEEDS

If you've got some of last year's sunflower crop stored in bins, make sure you keep an eye on the seed's moisture level. The maximum recommended moisture content for stored sunflower is 9.5% through the winter months and 8% if the storage period is longer than about six months. It's also important to check the sunflower weekly and make sure you check the sunflower, not the bin. Check by getting into the storage each time and walk, feel, smell, and probe the seeds. Remember, walking around in filled bins can be dangerous, so take extra precautions. For more storage tips, visit www.sunflowernsa.com


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

January 26-27, 2016 - No-Till on the Plains, Salina Kansas
January 29-30, 2016 - Young Farmers and Ranchers Conference, Manhattan, Kansas
February 2-3, 2016 - CCTA Conference, Burlington, Colorado
June 28-30, 2016 - 2016 NSA Summer Seminar, Bismarck, ND




MARKETS

Traders are monitoring U.S. export demand, South American weather, world farmer sales, and carryout levels. Macroeconomic events such as China economic reports, crude petro oil and the stock market are also affecting commodity prices. As a result oilseed prices have mainly been on the defensive to start the year. Traders fear that U.S. exports will likely be hampered by a strong U.S. dollar. This could lead to a building of already large domestic stockpiles as farmers prepare to plant another crop. From the looks of it, U.S. farmers are looking to increase soybean acres in 2016. Private estimates have this year's crop in a range of 82.2 to 85.2 million acres of beans compared to 82.7 million in 2015. Unless there are production issues during the growing season this could lead to downward price pressure on new crop prices. Current weather in South America is conducive for crop production. February is the critical development month for oilseeds in South America so there is still time for a shift in production prospects. In general, the market will probably trade sideways until there is a something to break the current trading trend.


Weekly Prices Recorded on Monday, January 25, 2016 ($/CWT)
  Deliver Last Year Last Week This Week Change 2016 New Crop
  Chicago Oil          
  Nearby 31.08 30.03 30.44 +.41 30.91
  Fargo, ND          
  NuSun 18.90 16.50 16.55 +.05 17.10
  Enderlin, ND          
  NuSun 18.80 16.55 16.65 +.10 17.05
  Goodland, KS          
  NuSun 19.55 16.15 16.30 +.15 15.70


US CRUDE OIL VALUES
recorded on Monday, January 25, 2016
(dollars per 100 lb. internal U.S. location
  Last Year Last Week This Week Change
Soybean Oil 30.73 28.28 28.69 +.41
Cotton Oil (pbsy) 46.08 45.03 45.44 +.41
Corn Oil 35.50 40.50 41.50 +1.00
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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