Nitrogen Prices Soften into the New Year

Posted on Thu, 01/02/2020 - 12:58

 

  • Fertilizer prices were mostly lower this week.
  • Our Nutrient Composite Index (NCI) fell 2.20 points this week to 543.76.

Nitrogennitrogen price indices

  • Nitrogen prices were lower in the final week of December 2019 with urea, once again leading declines.
  • Urea fell $3.47 regionally with Illinois off $22.71 and Michigan down $10.30. Minnesota posted the only price gain, up 76 cents per short ton.
  • UAN32% fell $1.09 on the week with Minnesota down $5.88 and Indiana off %5.77.
  • UAN28% fell 62 cents by the short ton with North Dakota falling $14.62 and Michigan off $3.87. Notably, Iowa 28% firmed $15.82 on the week. The other "I"states were slightly lower.
  • Anhydrous ammonia trailed the decline but was still slightly lower on the week. Indiana charged $32.25 on the week while Missouri softened $1.69. We note the most upward movement in NH3 with Michigan up $13.71 and Minnesota gaining $8.09.

Phosphatep and k indices chart

  • Phosphates were lower on the week as well with DAP down $3.53. Indiana DAP softened $25.50 and Illinois down $6.71. No state posted a higher DAP price on the week.
  • MAP was slightly softer with Illinois down $8.58 and Minnesota off $7.25. Most states were lower, but Nebraska and Kansas each firmed a few dimes on the week by the short ton.
  • According to MosaicCo., wholesale phosphate prices fell in the week ended December 20, 2019.

Potash

  • Potash was the sole gainer among the fertilizers were survey this week.
  • Vitamin K firmed 14 cents regionally by the short ton.
  • Indiana softened $1.31 and Nebraska fell 89 cents as Minnesota firmed $1.98 and Illinois gained $1.07 per short ton.
  • According to MosaicCo., wholesale potash prices fell during the report week at U.S. terminals.

Corn Futures

  • December 2020 corn futures closed Friday December 27 at $4.03 putting expected new-crop revenue (eNCR) at $665.28 per acre.
  • With our Nutrient Composite Index (NCI) at 543.76 this week, the eNCR/NCI spread widened 5.72 points and stands at -121.52.
Fertilizer
12/16/19
12/23/19
Change
Current Week
Fertilizer
Anhydrous
$501.55
$503.63
-$3.97
$503.21
Anhydrous
DAP
$441.21
$441.53
-$7.84
$438.01
DAP
MAP
$440.01
$435.02
-$4.30
$433.54
MAP
Potash
$366.62
$366.38
-$2.55
$366.52
Potash
UAN28
$242.13
$243.74
-$16.39
$243.13
UAN28
UAN32
$274.48
$275.70
-$3.60
$274.60
UAN32
Urea
$383.48
$376.22
-$5.07
$372.76
Urea
Composite
547.29
545.96
-2.20
543.76
Composite

nutrient composite index chart