High Plains Journal - Sunflower Prices Remain Strong
This article was taken directly from the High Plains Journal - December 30, 2019 Edition.
Sunflower prices at the crush plants remain stronger than normal for this time of the year as a late harvest has oilseed crushers searching for seed supplies.In the past two weeks nearby prices have ralled with last weed adding another 10 to 20 cents per hundred weight. 2020 new crop prices were unchanged after recently gaining 40 to 60 cents. The USDA December World Agricultural Supply and Demand Estimates report was a non-event for the grain market. The agency's December report left corn and soybean production data unchanged from its November estimates. This left traders with thoughts that any significant changes to production, stocks and usage will come in the January report. After more than a year of intense negotiations, the White House and Congressional Democrats reached an agreement on the USMCA trade agreement. Having a USMCA agreement in place is great news for sunflower products as oil, meal, in-shell seed and kernel will maintain duty free access to Canadian and Mexican markets. Canada is the largest export market for U.S. sunflower oil and sunflower kernel. USMCA is expected to be voted on in the House soon and the earliest it would likely be brought up in Senate for consideration would be in January. Congressional approval of USMCA would return market certainty to these export markets for producers.
This article was taken directly from the High Plains Journal - December 30, 2019 Edition.
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