- Fertilizer prices were mildly higher on the week with urea leading gains.
- Our Nutrient Composite Index (NCI) firmed 2.10 points to 532.35, which compares to our five-year average for this week of 616.59.
|
Fertilizer
|
3/9/20
|
3/16/20
|
Change
|
Current Week
|
Fertilizer |
|
Anhydrous
|
$507.61
|
$508.93
|
+16 cents
|
$509.08
|
Anhydrous |
|
DAP
|
$418.47
|
$418.72
|
+35 cents
|
$419.04
|
DAP |
|
MAP
|
$407.79
|
$407.38
|
+$1.76
|
$409.14
|
MAP |
|
Potash
|
$359.33
|
$358.64
|
+43 cents
|
$359.07
|
Potash |
|
UAN28
|
$237.99
|
$236.39
|
+37 cents
|
$236.76
|
UAN28 |
|
UAN32
|
$274.39
|
$274.39
|
+23 cents
|
$274.62
|
UAN32 |
|
Urea
|
$362.37
|
$361.58
|
+$6.45
|
$368.04
|
Urea |
|
Composite
|
530.90
|
530.25
|
+2.10
|
532.35
|
Composite |
Corn Futures
- December 2020 corn futures closed Friday March 20 at $3.63 putting expected new-crop revenue (eNCR) at $594.88 per acre.
- With our Nutrient Composite Index (NCI) at 532.35 this week, the eNCR/NCI spread narrowed 19.70 points and stands at -62.53.
Nitrogen
- Urea led gains in the nitrogen segment firming $6.45 regionally this week. Iowa firmed $31.07 and Indiana gained $20.92 per short ton. Michigan posted the only decline in urea, down $2.33. According to MosaicCo., during the week ended March 20, wholesale urea softened sharply at the NOLA terminal.
- UAN28% was led mildly higher by a $3.81 price hike in Nebraska as Ohio added $1.43. Iowa softened 80 cents and Wisconsin dropped 35 cents.
- UAN32% gained 23 cents on the week with Nebraska up $2.05 and Kansas adding 63 cents. Iowa 32% fell 65 cents on the week.
- Anhydrous ammonia was very slightly higher with Nebraska up $1.96 and Kansas firming 61 cents per short ton. Iowa NH3 softened 66 cents. All other states were unchanged on the week.
Phosphate
- Phosphates were higher with MAP leading gains.
- Michigan MAP firmed $11.81 as Indiana firmed $3.78. Nebraska slipped 60 cents and Wisconsin dropped a dime.
- DAP was led higher by South Dakota which firmed $11.00 on the week. Ohio DAP softened $8.84 and Kansas fell $2.68.
- According to MosaicCo., during the week ended March 20, wholesale MAP was lower at U.S. terminals while DAP fell at Tampa and NOLA while firming at Central Florida terminals.
Potash
- Potash firmed along with the rest of the fertilizer segment.
- Gains were mild, however with South Dakota up $1.26 and Ohio firming 94 cents. No state posted a lower potash price this week.
- During the report week, MosaicCo. reported sideways wholesale potash price movement.
- When considered on an indexed basis, potash prices remain at a premium to anhydrous ammonia.
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