Fertilizer Prices Turn Mildly Higher

Posted on 08/14/2020 12:48 PM

 

Fertilizer prices were mostly higher with UAN28% softer on the week.

Our Nutrient Composite Index (NCI) firmed 1.73 points to 524.39.

Fertilizer
7/27/20
8/3/20
Change
Current Week
Fertilizer
Anhydrous
$478.66
$474.77
+$1.33
$476.10
Anhydrous
DAP
$420.01
$427.99
+$1.96
$429.95
DAP
MAP
$414.02
$413.39
+53 cents
$413.92
MAP
Potash
$354.84
$353.77
+79 cents
$354.56
Potash
UAN28
$235.93
$234.01
+71 cents
$233.30
UAN28
UAN32
$260.97
$260.57
+40 cents
$260.96
UAN32
Urea
$366.52
$363.89
+$4.65
$368.54
Urea
Composite
523.43
522.66
+1.73
524.39
Composite

Corn Futures

  • December 2021 corn futures closed Friday August 7 at $3.60 putting expected new-crop revenue (eNCR) at $596.30 per acre, down $3.56 on the week.
  • With our Nutrient Composite Index (NCI) at 524.39 this week, the eNCR/NCI spread narrowed 4.12 points and stands at -71.91.

Nitrogennitrogen indices chart

  • Nitrogen prices were mostly higher with 28% off just slightly.
  • Urea led to the upside with Nebraska firming $45.51 and Illinois up $21.57. Michigan led declines falling $9.58 as North Dakota dropped $4.62. Wholesale urea markets firmed on the week again, but India's tenders have thus far been a disappointment as far as tonnages go. Larger purchases by India would confirm the higher wholesale price. If India balks at the price, we will likely see retail prices fall here in the coming few weeks.
  • Anhydrous ammonia was led higher by Nebraska which firmed $47.01 as Iowa gained $16.74 per short ton. Michigan fell $26.14 and North Dakota softened $12.91.
  • UAN32% was up slightly regionally with Missouri firming $25.80 and Iowa gaining $5.72. Michigan fell $20.10 and Wisconsin softened $12.20.
  • UAN28% was the sole decliner across our fertilizer price survey this week with Michigan off $7.46 and Indiana down $8.65. Nebraska gained $7.65 and North Dakota firmed $4.53.

Phosphate

  • Phosphates were higher on the week.
  • DAP was higher on strength in Minnesota, up $23.15 and Kansas $13.11 higher. Michigan fell $12.40 and Wisconsin softened $4.17.p and k indices chart
  • MAP was only slightly higher led by Indiana, up $13.89 and Iowa $8.45 higher. Michigan led declines here as well, down $11.90 as Wisconsin softened $6.96.
  • According to MosaicCo., during the week ended August 14, wholesale phosphate prices were mostly higher at U.S. terminals.

Potash

  • Potash firmed slightly on the week.
  • Nebraska led gains firming $10.06 per short ton as Iowa added $3.66. Illinois softened $9.19 and Wisconsin fell $3.57.
  • According to MosaicCo., during the report week, wholesale potash prices ran sideways at NOLA and at Corn Belt terminals.

nutrient composite index chart

 

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