Weekly Fertilizer Bulletin | NCI Soars Higher

Posted on 05/08/2018 3:51 PM

 

  • Fertilizer prices were mixed on the week with phosphate leading declines.
  • Our Nutrient Composite Index firmed 6.94 points to 558.06. This compares to last year's 536.38.

Nitrogennitrogen indices chart

  • UAN32% led gains in the nitrogen segment this week.
  • In fact, all four of the nitrogen products in our survey posted overall gains.
  • Anhydrous ammonia poked back above the year-ago peg and stands at a 52 cents premium to the same week last year.
  • Urea continued higher as well adding an aggressive $2.45 per short ton.

Phosphate

  • DAP and MAP were both lower on the week.
  • DAP outpaced declines in MAP by 3 to 1, widening the already wide spread between the two.
  • Wholesale DAP and MAP were generally sideways to lower at U.S. terminals during the week ended May 4, according to MosaicCo.pandk indices chart

Potash

  • Potash was higher on the week but maintains a discount to NH3 on an indexed basis.
  • Wholesale potash moved sideways during the week ended May 4 at U.S. terminals but remains at a decent premium to the same time last year.

Corn Futures

  • December 2018 corn futures closed Friday May 4 at $4.21 putting expected new-crop revenue (eNCR) at $673.20 per acre -- higher $11.90 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 558.06 this week, the eNCR/NCI spread favors fertilizer buyers, widening 8.67 points and now stands at -115.14.
Fertilizer
4/2318
4/30/18
Change
Current Week
Fertilizer
Anhydrous
$524.59
$522.98
+$1.16
$525.75
Anhydrous
DAP
$484.93
$484.08
-$2.33
$482.60
DAP
MAP
$517.50
$516.64
-68 cents
$516.82
MAP
Potash
$345.90
$344.63
+$2.57
$348.47
Potash
UAN28
$243.11
$244.22
+38 cents
$243.49
UAN28
UAN32
$272.64
$272.27
+$6.32
$279.36
UAN32
Urea
$370.41
$370.52
+$2.45
$372.86
Urea
Composite
555.37
554.83
+6.94
558.06
Composite

nci chart

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