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Oil Sunflower Gains in 2010
The price for nearby oil sunflower posted steady significant gains in 2010 to finish out the year at $22.45 cwt at crush plant locations. This is a 60% increase in price compared to the start of 2010 at $14.00 cwt. This increase surpassed the December CBoT soybean oil contract which garnered a 38% increase from January to December of 2010. South American Oilseed Crop
Soybean production prospects are deteriorating in Argentina due to lingering drought conditions according to Oil World. The drought is most severe in the major soybean and corn growing areas of the country but now has intensified in the southern region where most of the sunflower production is located. Some rainfall is expected over the next 10 days but very high temperatures have impacted soil moisture as well. If the drought continues in January crop production will decline significantly from average production levels. Continued drought is also affecting southern Brazil, Uruguay, Bolivia and Paraguay. 2011 Sunflower Research Forum
The schedule for the 33rd Research Forum consists of 29 paper and 12 poster presentations. The two-day event on Jan. 12-13, 2011 in Fargo features presentations and posters by research personnel from across the country. Topics include plant breeding, disease and insect resistance, bird repellent and planting decisions. To register for the event or view the schedule and details on the presentations go to www.sunflowernsa.com. Click on the Calendar of Events tab and locate the 2011 NSA Research Forum under the Workshops/Forums heading. U.S Oil Stocks
U.S. sunflower oil stocks are reported up 34% from October to November in the most recent U.S. Census report. Stocks in October were reported at 42,419 MT compared to 56,588 MT in November. Other competing oils had increases as well, with cotton reporting an 8% increase, corn up 3% and soybean oil having a 2% increase.Trans Fat Ban Phase 2
Pointing toward a possible boost for trans fat free sunflower oil, California has entered Phase 2 of the state's trans fat ban that was signed into law in 2008. As of Jan. 1, 2011, no food containing 0.5 grams or more of artificial trans fat per serving may be stored, distributed, served by or used in the preparation of any food within a food facility. This prohibition also applies to the deep frying of yeast dough or cake batter which had been excluded during Phase 1 in 2010 that banned oil, shortening or margarine containing 0.5 or more of artificial trans fat per serving.Research Push in 2010
The realm of research was refocused in 2010 with several postdoctoral scientists joining the expanding team of plant pathologists, geneticists and other molecular scientists dedicated to sunflower research. With NSA funding assistance, public sunflower research appointments were made in the areas of doubled haploid system for sunflower breeding, Verticillium wilt, confection rust resistance, and insect resistance. Two postdoctoral scientists were also added to the Sclerotinia research team and funded by the National Sclerotinia Initiative. Significant focus of research in 2010 was the SNP project aiming at identifying the sunflower plant's genetic makeup thus allowing breeders to become more efficient at pinpointing useful traits such as disease resistance and transferring those desirable traits into new breeding populations. Markets
Near term oilseed price direction continues to focus on South American growing conditions. It is very dry in Argentina with little relief in sight causing market analysts to lower production estimates for soybeans and sunflower. CBoT soybean oil contracts have rallied due to this and strong crude petroleum prices. Also bolstering oil values is the extension of the biodiesel tax credit. Vegetable oil usage is expected to increase making stocks tighter in 2011. Old and new crop sunflower prices have followed the upward price spiral. New crop oil sunflower prices have gone up $2.40 since the beginning of December for fall harvest delivery. 2011 new crop confection sunflower prices are out also. The next big market mover will be USDA's annual crop report which is released next week. Traders are expecting a bullish tight ending stocks situation. Given current market forces the competition for 2011 acres will continue to be aggressive as most crops will be looking for an acreage expansion in the coming year.
The price for nearby oil sunflower posted steady significant gains in 2010 to finish out the year at $22.45 cwt at crush plant locations. This is a 60% increase in price compared to the start of 2010 at $14.00 cwt. This increase surpassed the December CBoT soybean oil contract which garnered a 38% increase from January to December of 2010. South American Oilseed Crop
Soybean production prospects are deteriorating in Argentina due to lingering drought conditions according to Oil World. The drought is most severe in the major soybean and corn growing areas of the country but now has intensified in the southern region where most of the sunflower production is located. Some rainfall is expected over the next 10 days but very high temperatures have impacted soil moisture as well. If the drought continues in January crop production will decline significantly from average production levels. Continued drought is also affecting southern Brazil, Uruguay, Bolivia and Paraguay. 2011 Sunflower Research Forum
The schedule for the 33rd Research Forum consists of 29 paper and 12 poster presentations. The two-day event on Jan. 12-13, 2011 in Fargo features presentations and posters by research personnel from across the country. Topics include plant breeding, disease and insect resistance, bird repellent and planting decisions. To register for the event or view the schedule and details on the presentations go to www.sunflowernsa.com. Click on the Calendar of Events tab and locate the 2011 NSA Research Forum under the Workshops/Forums heading. U.S Oil Stocks
U.S. sunflower oil stocks are reported up 34% from October to November in the most recent U.S. Census report. Stocks in October were reported at 42,419 MT compared to 56,588 MT in November. Other competing oils had increases as well, with cotton reporting an 8% increase, corn up 3% and soybean oil having a 2% increase.Trans Fat Ban Phase 2
Pointing toward a possible boost for trans fat free sunflower oil, California has entered Phase 2 of the state's trans fat ban that was signed into law in 2008. As of Jan. 1, 2011, no food containing 0.5 grams or more of artificial trans fat per serving may be stored, distributed, served by or used in the preparation of any food within a food facility. This prohibition also applies to the deep frying of yeast dough or cake batter which had been excluded during Phase 1 in 2010 that banned oil, shortening or margarine containing 0.5 or more of artificial trans fat per serving.Research Push in 2010
The realm of research was refocused in 2010 with several postdoctoral scientists joining the expanding team of plant pathologists, geneticists and other molecular scientists dedicated to sunflower research. With NSA funding assistance, public sunflower research appointments were made in the areas of doubled haploid system for sunflower breeding, Verticillium wilt, confection rust resistance, and insect resistance. Two postdoctoral scientists were also added to the Sclerotinia research team and funded by the National Sclerotinia Initiative. Significant focus of research in 2010 was the SNP project aiming at identifying the sunflower plant's genetic makeup thus allowing breeders to become more efficient at pinpointing useful traits such as disease resistance and transferring those desirable traits into new breeding populations. Markets
Near term oilseed price direction continues to focus on South American growing conditions. It is very dry in Argentina with little relief in sight causing market analysts to lower production estimates for soybeans and sunflower. CBoT soybean oil contracts have rallied due to this and strong crude petroleum prices. Also bolstering oil values is the extension of the biodiesel tax credit. Vegetable oil usage is expected to increase making stocks tighter in 2011. Old and new crop sunflower prices have followed the upward price spiral. New crop oil sunflower prices have gone up $2.40 since the beginning of December for fall harvest delivery. 2011 new crop confection sunflower prices are out also. The next big market mover will be USDA's annual crop report which is released next week. Traders are expecting a bullish tight ending stocks situation. Given current market forces the competition for 2011 acres will continue to be aggressive as most crops will be looking for an acreage expansion in the coming year.
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