Anhydrous Drifts Below $500

Posted on 11/06/2019 1:38 PM

 

  • Fertilizer prices were lower across the board with NH3 slipping below $500 per short ton.
  • Our Nutrient Composite Index (NCI) plummeted 7.98 points on the week to 555.85.

NitrogenNitrogen indices chart

  • Nitrogen prices were led lower by anhydrous ammonia, which softened $8.20 on the week. Wisconsin declined $28.46 as Michigan fell $15.39. Significantly, no state posted an anhydrous price increase this week.
  • UAN28% was not far behind, softening $7.70. Iowa led to the downside falling $32.81 and Illinois fell $26.94. South Dakota firmed $4.02 and Michigan added 52 cents per short ton. No other state posted a higher 28% price this week.
  • UAN32% softened $4.63 with Indiana off $32.70 and Minnesota down $27.30. Illinois 32% gained $11.06 and Iowa added $9.26.
  • Urea fell $4.53 regionally with Wisconsin off $17.50 and Minnesota softening $8.62. South Dakota firmed $3.30 and Nebraska gained 24 cents per short ton.

Phosphate

  • Phosphates were lower on the week with MAP off $5.31. Indiana softened $20.80 and North Dakota fell $19.20. Illinois added $10.72 as South Dakota firmed $4.36.p and k indices
  • DAP fell $3.07 with Wisconsin down $16.80 and Minnesota off $11.90. Only Iowa posted a higher DAP price on the week, higher $19.22 per short ton.
  • According to MosaicCo., wholesale phosphate prices were sideways to lower at U.S. terminals in the week ended November 1.

Potash

  • Potash softened $2.68 by the short ton with Wisconsin down $12.90 and Michigan off $7.39. Most states were unchanged to lower but South Dakota firmed $4.02 and Michigan added 52 cents per short ton.
  • According to MosaicCo., wholesale potash prices softened at U.S. terminals during the report week.
  • On an indexed basis, potash remains overpriced compared to anhydrous ammonia, but is roughly in-line with this week's Nutrient Composite Index.

Corn Futures

  • December 2020 corn futures closed Friday November 1 at $4.05 putting expected new-crop revenue (eNCR) at $668.80 per acre.
  • With our Nutrient Composite Index (NCI) at 555.85 this week, the eNCR/NCI spread widened 4.46 points and stands at -112.95.
Fertilizer
10/21/19
10/28/19
Change
Current Week
Fertilizer
Anhydrous
$516.21
$501.44
-$8.20
$493.24
Anhydrous
DAP
$455.49
$453.60
-$3.07
$450.53
DAP
MAP
$459.14
$453.29
-$5.31
$447.98
MAP
Potash
$375.31
$375.96
-$2.68
$373.28
Potash
UAN28
$260.50
$259.34
-$7.70
$251.64
UAN28
UAN32
$286.13
$284.15
-$4.63
$279.52
UAN32
Urea
$393.38
$391.78
-$4.53
$387.25
Urea
Composite
568.48
563.83
-7.98
555.85
Composite

nutrient composite index chart

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