P&K Today | Opportunities May Exist Up North

Posted on 06/08/2018 1:18 PM

 

  • DAP $45.80 above year-ago pricing -- lower $1.50/st on the week to $492.94/st.
  • MAP $55.49 above year-ago -- lower $3.54/st this week to $516.62/st.
  • Potash $16.35 above year-ago -- lower $2.18/st this week to $350.23/st.

MAP led declines in the P&K segment this week with North Dakota falling $15.70 and Iowa off $14.50. Three phosphate price chartstates were unchanged as Michigan added $3.16 and Ohio firmed $2.94.

Potash was lower on a $6.91 drop in Illinois as Missouri fell $5.66 per short ton. No state was unchanged. Michigan led gains, firming $2.64 as Minnesota firmed 13 cents per short ton.

DAP was pressured by Illinois which softened $7.63 as Wisconsin dropped $2.56. Only North Dakota was unchanged with Ohio up $10.63 and Minnesota firming $7.28.

With P&K applications squarely in the rear view mirror, we will be watching for opportunities to book for fall applications. Wholesale phosphate and potash values are higher according to MosaicCo. That will keep the seasonal demand decline from pulling prices sharply lower.

Sulphur prices remain unchanged again this week which has been the primary driver of overpriced phosphates. potashProduction capacity increases are due to come online later this summer, but it will likely take as much as 6 months before the production increases overseas impact U.S. retail prices. for now, hold off on booking P&K for fall.

I should point out that northern areas are oversupplied on some fertilizer products and it might be worth a call to your preferred retailer to see if DAP and MAP prices have recently taken a dive. As with nitrogen, a narrow application window drained supplies in North Dakota and Minnesota quickly, and some dealers are just now getting product delivered, just in time to watch spring demand fade. That could be an opportunity for farmers to book some P&K for fall at overstock prices. The closer to $400 per short ton on phosphate and $300 on potash, the better.

By the Pound -- The following is an updated table of P&K pricing by the pound as reported to your Inputs Monitor for the week ended June 1, 2018.

DAP is priced at 51 1/4 cents/lbP2O5; MAP at 48 1/2 cents/lbP2O5; Potash is at 29 cents/lbK2O.

P&K pricing by the pound -- 6/7/2018

DAP $P/lb

MAP $P/lb
Potash $K/lb
 
Average
$0.51 1/4
$0.48 1/2
$0.29
Average
Year-ago
$0.46 3/4
$0.43 1/2
$0.28
Year-ago

pand k indices chart


 

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