Anhydrous Falls Sharply

Posted on 08/12/2019 3:57 PM

 

  • Fertilizer prices were lower with potash posting the only price gain in our weekly survey.
  • Our Nutrient Composite Index (NCI) softened 7.18 points to 613.25.

Nitrogennitrogen indices chart

  • All four of the nitrogen products in our weekly survey were lower.
  • Anhydrous ammonia led nitrogen prices lower, falling $17.93 regionwide Ohio led the charge lower, falling $96.26, South Dakota softened $54.29 and North Dakota NH3 prices dropped $26.72. Significantly, NO STATE posted a higher NH3 price this week.
  • UAN28% was off as well, down $3.45 on the week led by declines in Ohio and Minnesota.
  • UAN32% fell under the weight of declines in Michigan and Minnesota. As with anhydrous, no state posted a higher UAN32% price on the week.
  • Urea was lower on softer prices in Minnesota and South Dakota.

You should be at least 30% filled on anhydrous for fall and for spring applications, especially in areas outside the "I" states and Missouri. While prices in those states remain elevated, the upside appears to be equally as limited as the downside. We do recommend you fill fall needs before combines roll in your state, so keep a close watch on your local prices using the map on the profarmer.com homepage, and keep reading your Inputs Monitor.

Phosphatep and k indices chart

  • Phosphates were lower on the week.
  • DAP fell $12.27 on the week with South Dakota off sharply and Minnesota off nearly $40.
  • MAP was off $3.75 on the week with Minnesota down $26 and South Dakota falling $13.60.
  • According to MosaicCo., wholesale phosphate prices were lower with Central Florida DAP moving sideways in the week ended August 9.

Potash

  • Potash was the sole gainer in this week's survey.
  • Kansas and Michigan each posted moderate price gains as Minnesota and South Dakota each declined just shy of 5 bucks.
  • MosaicCo. indicated wholesale potash was higher at NOLA and unchanged in the Corn Belt.
  • With this week's sharp downside swing in NH3, potash is priced at a premium to anhydrous ammonia.

Corn Futures

  • December 2019 corn futures closed Friday August 9 at $4.15 putting expected new-crop revenue (eNCR) at $686.40 per acre -- higher $5.28 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 613.25 this week, the eNCR/NCI spread widened 12.46 points and now stands at -73.15.
Fertilizer
7/29/19
8/5/19
Change
Current Week
Fertilizer
Anhydrous
$569.95
$574.72
-$17.93
$556.79
Anhydrous
DAP
$503.92
$507.38
-$12.27
$495.10
DAP
MAP
$516.53
$513.92
-$3.75
$510.17
MAP
Potash
$393.31
$391.30
+84 cents
$392.14
Potash
UAN28
$280.39
$280.04
-$3.45
$276.58
UAN28
UAN32
$316.21
$313.74
-$2.05
$311.69
UAN32
Urea
$425.27
$424.94
-$1.24
$423.70
Urea
Composite
620.95
620.43
-7.18
613.25
Composite

nutrient composite index chart

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