Tuesday, April 15, 2008

Seed Prices

From The Prairie Star

While many commodity prices were influenced by the Prospective Plantings and Stocks reports released March 31 by the USDA, sunflower remained relatively unchanged.

The planting intentions report was termed bullish for corn, slightly bearish for wheat and soybeans, and neutral for sunflower.

The USDA's report indicated nationwide corn acreage will decrease by eight percent from 2007, while soybean plantings will jump by 18 percent and wheat acreage will see a six percent increase.

Sunflower acres in the U.S. are expected to grow by four percent from last year to 2.15 million acres - 1.85 million acres for oil varieties, up five percent; and 305,000 acres for non-oil sunflower, up fractionally from last year.

In North Dakota, acres for oil sunflower varieties is expected to grow by one percent to 410,000 acres, but non-oil plantings will shrink by 24 percent to 125,000 acres.

“Getting an increase in acres in a very competitive acreage environment is gratifying,” said Tim DeKrey, president of the National Sunflower Association.

Larry Kleingartner, executive director of the NSA, noted the soybean acreage number was larger than expected while corn was lower than expected which affected prices.

As expected, prices declined for soybeans while corn prices were stronger. Sunflower prices, as of April 3, remained unchanged from the week prior.

NuSun and linoleic sunflower prices for April delivery were still at $23.65-$23.95 for April delivery, and $24.25 for May delivery.

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