P&K Today | P&K Edges Higher

Posted on 01/11/2018 11:56 AM

 

  • DAP $17.79 above year-ago pricing -- higher $2.34/st on the week to $456.88/st.
  • MAP $41.07 above year-ago -- higher 96 cents/st this week to $478.92/st.
  • Potash $21.21 above year-ago -- higher $1.72/st this week to $333.80/st.phosphate chart

DAP led gains in the P&K segment on the week. Indiana led to the upside, firming $10.78 as Illinois $6.87. Five states were unchanged as Minnesota fell $19.80 and Nebraska shucked $14.20.

Potash gained $1.72 on the week led by Missouri, which added $14.34 as Kansas firmed $6.98. Five states were unchanged as Minnesota fell $5.66 and Nebraska dropped $4.53.

MAP added less than a dollar as Missouri firmed $4.97 and Minnesota added $3.35. Five states were unchanged here as well with Kansas off $21.12 and Indiana softening $19.00 per short ton.

Nitrogen prices are on the rise and that may mean phosphate prices will rise as well. Strength in phosphate could be tied to strength in nitrogen on the basis of higher feedstock ammonia. There is a great deal of fresh phosphate production capacity due to come online overseas in the next few years, which will place pressure on DAP and MAP farther down the road, but at the moment, marketpotash chart fundamentals are little changed, and phosphate is still the highest priced nutrient on a relative basis in our survey.

Seasonally, phosphate is due for a pullback, but that may just translate into limited price support rather than pressure if the rest of the fertilizer segment wants to firm from here. We have some catch up to play on booking P&K for spring applications so we will be looking for opportunities to reward setbacks as they come during the offseason.

Potash is currently priced at about the same level it was during spring 2017 which may suggest a flat trajectory through the winter months. World production fundamentals are mostly unchanged for vitamin K and we expect little near-term volatility.

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 January 5, 2017.

DAP is priced at 46 cents/lbP2O5; MAP at 44 3/4 cents/lbP2O5; Potash is at 28 1/4 cents/lbK2O.

P&K pricing by the pound -- 1/11/2017

DAP $P/lb

MAP $P/lb
Potash $K/lb
 
Average
$0.47 1/2
$0.44 3/4
$0.28 1/4
Average
Year-ago
$0.46
$0.40 3/4
$0.26 1/4
Year-ago

pandk indices


 

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