On Friday, USDA released its annual crop production report for all
crops. The 2013 sunflower production totaled 2.03 billion pounds, down
27 percent from 2012. The United States average yield per acre decreased
134 pounds from last year to 1,379 pounds. Planted area was 18 percent
below last year. Area harvested decreased 20 percent from last year.
Cool temperatures and wet conditions this spring sharply reduced the
amount of sunflower that was able to be seeded resulting in decreased
production. With final production figures out in the market, traders
will have a clearer picture of 2013/14 sunflower supply and demand
setting market direction for the next few months. The USDA report for US
soybeans was considered neutral with USDA raising soybean production
slightly above its last estimate. In Friday's report, globally, USDA now
estimates Brazil will grow 89 Million Metric Tons (MMT) of soybeans, up
1 MMT, while Argentina production was left unchanged at 54.5 MMT.
Overall, the global ending stocks figure for soybeans came in at 72.33
MMT, up 1.71 MMT on larger global production. The stocks figure was
higher than the range of pre-report estimates. Going forward South
American weather and US export demand will be the main market movers.
Source: National Sunflower Association
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