Price Volatility Flees Fertilizers

Posted on 05/14/2020 1:06 PM

 

Fertilizer prices were mixed, but no fertilizer posted a price move greater than 99 cents per short ton on the week.

  • Our Nutrient Composite Index (NCI) firmed 0.51 points to 541.02.
Fertilizer
4/27/20
5/4/20
Change
Current Week
Fertilizer
Anhydrous
$509.21
$506.80
-22 cents
$506.58
Anhydrous
DAP
$419.23
$422.98
+67 cents
$423.66
DAP
MAP
$420.20
$418.43
+31 cents
$418.74
MAP
Potash
$357.78
$356.99
-10 cents
$356.88
Potash
UAN28
$244.08
$245.07
+54 cents
$245.61
UAN28
UAN32
$271.81
$274.00
+4 cents
$274.04
UAN32
Urea
$372.58
$387.10
+99 cents
$388.09
Urea
Composite
536.49
540.51
+0.51
541.02
Composite

Corn Futures

  • December 2020 corn futures closed Friday May 8 at $3.35 putting expected new-crop revenue (eNCR) at $545.60 per acre, unchanged on the week.
  • With our Nutrient Composite Index (NCI) at 541.02 this week, the eNCR/NCI spread narrowed 2.27 points and stands at -4.58.nitrogen indices chart

Nitrogen

  • Nitrogen prices were mixed but mostly higher.
  • Urea led gains in the nitrogen segment, firming 99 cents per short ton. Michigan led to the upside gaining $4.85 and Indiana rose $1.67. No state posted a lower urea price on the week.
  • UAN28% gained 54 cents per short ton. North Dakota firmed $2.63 and Michigan gained $1.93. As with urea, no state posted a lower price on the week.
  • UAN32% rounds out nitrogen gains adding just 4 cents per short ton. Minnesota firmed $1.17 as Michigan 32% fell 53 cents and Nebraska shucked 22 cents. All other states were unchanged on the week.
  • Anhydrous ammonia was the sole decliner in the nitrogen segment falling 22 cents on the week. Indiana softened $3.92 as Nebraska firmed 84 cents and Missouri added 45 cents per short ton. All other states were unchanged this week.

Phosphate

  • Phosphates were slightly higher on the week with DAP up 67 cents and MAP 31 cents per short ton higher.p and k indices chart
  • Only two states posted a fresh DAP price this week. Michigan firmed $5.90 as Indiana gained $1.50. All other states were unchanged on the week.
  • MAP in Michigan firmed $2.56 and Indiana rose 82 cents. Offsetting, Nebraska softened 78 cents per short ton.
  • According to MosaicCo., wholesale DAP and MAP prices softened at U.S. terminals in the week ended May 8.

Potash

  • Potash softened an even dime regionally this week.
  • Michigan softened $3.99 and Ohio dropped 83 cents. Meanwhile, North Dakota potash gained $1.75 and South Dakota firmed $1.17 per short ton.
  • Our indexed potash price has not moved much and remains in-line with phosphates and UAN28%. Anhydrous remains at a decent discount to that figure as urea and UAN32% hold a stubborn premium.
  • According to MosaicCo., during the report week, wholesale potash prices softened at U.S. terminals.

nutrient composite index chart


 

 

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