Nearby sunflower prices have climbed almost $2 per hundredweight during the recent rally. 2020 new crop prices have also increased by around $1.50 per hundredweight since they rolled out this past fall and are at a six-year high. Last year at this same time new crop prices at the crush plants were in a range of $16.75 to $17.25 for NuSun with high oleic at $17.20 to $18.00. Birdfood prices have also seen some upward movement gaining $1 to $1.25 per hundredweight. Traders continue to debate the impact of the recently signed Phase One U.S.-China trade agreement. Questions have surfaced on whether China will meet that target, particularly since the two governments have said they will keep secret the purchase benchmarks for individual commodities. Plus, China did not make any specific commitment to alter its tariffs on U.S. products as part of Phase One. In addition, the two countries did not arrange to let any disputes go to a neutral arbitrator. Instead, they will try to work out their differences in a series of consultations. If they can’t, the U.S. could impose tariffs and traders fear the deal could unravel. Overall price direction will continue to be determined by South American oilseed production prospects and confirmation from the USDA of China buying U.S. agriculture products.

 

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.