INPUTS

Fertilizer prices have been hinting at topping for a few weeks. But it may take deep cuts in nitrogen prices to keep farmers from switching corn acres to soybeans.

After a record one week drop in supply last week, at Cushing Oklahoma, the market is getting ready for yet another steep drop.

This week, farm diesel and propane moved in opposite directions.

This week's price action supports ideas that some fertilizers are working on a near-term top and will sink soon, seasonally.

This week, P&K prices were mixed but led higher by a sharp gain in MAP.

The International Energy Agency came out with an “explosive” report talking about “explosive” production growth as the United States will become the undisputed leader in global oil production. Take that Saudi Arabia and Russia!

As the nation recovers from the first of the year cold snap, fuels prices are lower although most states are unchanged on the week.

This week anhydrous and urea are higher, but declines in UAN offset the upside action in the nitrogen segment.

Farmers on the northern plains will see the benefits of locally-produced urea as early as the coming spring planting season.

As temperatures recover from unprecedented low levels, fuels are retracing to the downside.