Weekly Farm Fuels Bulletin | Diesel and LP Set-back

Posted on 04/03/2018 1:18 PM

 

Farm Dieseldiesel price chart

  • Farm diesel fell a full nickel on the week.
  • Missouri and Ohio led the downward charge, although half of the states in our survey posted price declines.
  • WTI crude oil futures have ranged between roughly $60 and $66 since mid-March and are currently exploring the midpoint of that range. But technical traders believe WTI is set up for near-term firmness. Meanwhile the seasonals are equally as bullish crude oil and fuels as we approach the summer driving season.
  • We believe this week's decline in farm diesel may be an opportunity to book some diesel for spring and summer fieldwork. Keep an eye on your Inputs Monitor at ProFarmer.com for an advice alert.

Propanepropane price chart

  • Retail propane prices are lower this week led by declines in Kansas and Missouri.
  • U.S. propane exports were very strong in December 2017 but fell slightly during January, which is the most recent month reported by EIA. We have posited before that demand for U.S. propane in the export market is for industrial uses, which will maintain a certain amount of demand consistency throughout the year, possibly limiting the downside for U.S. retail prices, even during the offseason.
  • This week's average retail LP price is 11 cents above the same week last year.

Fuel
3/19/18
3/26/18
Week-over Change
Current Week
Fuel
Farm Diesel
$2.41
$2.44
-5 cents
$2.39
Farm Diesel
LP
$1.46
$1.46
-3 cents
$1.43
LP

heating oil farm diesel spread chart


 

 

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