Posted on 05/14/2019 4:23 PM

 

  • After recent price softness, fertilizer prices surged to the upside this week.
  • Our Nutrient Composite Index (NCI) firmed 5.56 points to 630.56.

Nitrogennitrogen indices chart

  • Nitrogen prices were mostly higher this week with Urea once again leading gains on strength in Kansas and Michigan.
  • Anhydrous ammonia joined the uptrend firming $4.18 per short ton on higher prices in Minnesota and Kansas.
  • UAN28% was also higher with Nebraska up sharply on the week.
  • UAN32% was the sole decliner in the nitrogen segment with Nebraska and Kansas leading the way down.

Phosphate

  • Phosphates were lower on the week with DAP off $2.20 and MAP down $1.98.
  • Michigan and Minnesota pulled DAP lower as Kansas and North Dakota applied pressure to out p and k indices chartregional MAP price average.
  • According to MosaicCo., wholesale phosphate prices were sideways to lower once again in the week ended May 10.

Potash

  • Potash was higher on the week with Kansas and Iowa leading to the upside.
  • Wholesale potash prices were mostly lower to sideways on the week according to MosaicCo.

Corn Futures

  • December 2019 corn futures closed Friday May 10 at $3.72 putting expected new-crop revenue (eNCR) at $614.19 per acre -- lower $12.07 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 630.56 this week, the eNCR/NCI spread firmed 16.37 points and now stands at +16.37.
Fertilizer
4/29/19
5/3/19
Change
Current Week
Fertilizer
Anhydrous
$624.80
$615.35
+$4.18
$619.10
Anhydrous
DAP
$520.44
$518.45
-$2.20
$517.65
DAP
MAP
$529.98
$534.84
-$1.98
$533.03
MAP
Potash
$392.09
$392.05
+26 cents
$392.34
Potash
UAN28
$280.30
$271.56
+$3.10
$278.87
UAN28
UAN32
$313.05
$308.02
-74 cents
$313.60
UAN32
Urea
$404.78
$412.63
+$11.57
$419.35
Urea
Composite
628.26
625.00
+5.56
630.56
Composite

nutrient composite index chart

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