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USDA's initial estimate puts 2020 U.S. sunflower production at 2.4 billion pounds, up 26% from last year, on planted area rising from 1.35 to 1.56 million acres. Industry estimates see domestic sunflower crush rising 8% in 2020-21 to 1.1 billion pounds.
A larger U.S. sunflower crop adds meal and oil supply, which is bearish for sunflower meal and oil prices and gives processors more feedstock to compete with soybean products.
farmprogress.comJohn SandbakkenJun 4, 2020Not enough comparable past events yet for a historical read.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
