Fertilizers Higher Across the Board

Posted on 03/26/2020 11:49 AM

 

  • 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 indices chart

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.

Phosphatep and k indices chart

  • 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.

NCI/ENCR chart


 

 

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