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Nearby and new crop sunflower prices were unchanged to up 25 cents at the crush plants this week. On June 28, USDA released its first estimate of 2024 planted acres for all crops. Compared with last year, oil-type acreage decreased in all eight major sunflower producing states. The states with the largest decrease from last year were North and South Dakota. Compared with last year, growers in six of the eight major sunflower producing states had decreases in planted acreage for non-oil varieties. The largest decrease compared with last year occurred in South Dakota, where planted acreage decreased by 5,000 acres. Initial estimates using trend yields peg oil-type sunflower production at 1.24 billion pounds down 37 percent from last year with non-oil sunflower production at 223 million pounds down 25 percent from 2023. Now that the USDA planted acres report data is factored into the market, buyers will anxiously watch crop production prospects before making longer term purchases. In October, USDA will provide its first official estimate for oil and non-oil sunflower production. Sunflower trading will be influenced to a greater extent by crop conditions and progress along with weather conditions in the near term. Currently weather conditions are mostly favorable for crop development in the Dakotas and Minnesota. Mid-August through September is the critical time frame for sunflowers. The latest USDA supply and demand figures will also guide market direction in the week ahead.
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