Posted on 05/01/2019 3:51 PM

 

  • Fertilizer prices were mostly lower on the week.
  • Our Nutrient Composite Index softened 2.80 points to 623.38.

Nitrogennitrogen indices chart

  • Nitrogen prices were mostly lower with UAN28% leading declines on price softness in Michigan, Nebraska and Kansas.
  • Urea was lower as well led by Wisconsin and Michigan, which each posted $30-plus declines on the week.
  • Our regional average anhydrous ammonia price fell a full dime and is within 20 cents of being priced $100 exactly below year ago.
  • UAN32% bucked the downtrend in the nitrogen segment, firming 59 cents on the week with Nebraska leading gains from state to state.
  • The weather has delayed planting in many areas and has swelled rivers, making transport of fertilizers northward difficult at best. We had warned that northern areas may see price increases on the basis of short supplies. But as the spring season stretches into May, retailers have had more time to position product, which is applying some hefty pressure to nitrogen prices in our northern states this week.

Phosphatep and k indices chart

  • Phosphate prices were mixed with DAP moving $2.83 higher led by Wisconsin.
  • MAP was off $1.44 by the short ton regionally with Michigan leading declines.
  • Wholesale phosphate prices were sideways to lower at US terminals in the week ended April 26 according to data from MosaicCo.

Potash

  • Potash prices firmed on the week with Ohio leading gains.
  • Wholesale potash was slightly lower at U.S. terminals during the report week according to MosaicCo.

Corn Futures

  • December 2019 corn futures closed Friday April 26 at $3.80 putting expected new-crop revenue (eNCR) at $614.15 per acre -- lower $10.38 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 623.38 this week, the eNCR/NCI spread widened 3.44 points and now stands at +9.23.
Fertilizer
4/15/19
4/8/19
Change
Current Week
Fertilizer
Anhydrous
$619.85
$624.90
-0.10
$624.80
Anhydrous
DAP
$517.60
$517.60
+$2.83
$520.44
DAP
MAP
$531.77
$531.42
-$1.44
$529.98
MAP
Potash
$389.03
$388.78
+$3.31
$392.09
Potash
UAN28
$288.47
$289.18
-$8.88
$280.30
UAN28
UAN32
$312.99
$312.46
+59 cents
$313.05
UAN32
Urea
$410.43
$410.07
-$5.28
$404.78
Urea
Composite
625.58
626.18
-2.80
623.38
Composite

Nutrient Composite Index chart

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