Market update – new crop

Bulgaria dealt with some heavy rainfalls last week and in some places even more than 30 liters per square meter.

Luckily the sunflowers are at a growing stage where they can handle these circumstances better.

In fact, before the rain from last week, it was a long period of sun, causing the seeds grow above average and big sizes can be expected.

If the weather conditions remain the same, harvest could be possible in the first week of September, making deliveries for Mid-October possible.

 

Chinese new crop is down by 10 to 15% compared to last year.

As we are getting closer to the harvest, some farmers will hold on to their good quality 601 type, in the hope that the prices will increase again.

This explains also the small price increase for the 601 type, while other types such as 5009 and 363 are remaining at same low levels.

Nevertheless quality can differ greatly from seller to seller.

 

The planted acres in the US are down 37% over the intentions report.

Total acres stated are 186.000 acres, although due to the extreme drought in parts of North Dakota and South Dakota, it will probably be less.

Despite the drought in the Northern states, other parts showed good growth and should level it out.

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