Fertilizers Encounter Resistance | Softer on the Week

Posted on 11/01/2019 9:12 AM

 

  • Fertilizer prices were mostly lower on the week with only potash posting a price gain.
  • Our Nutrient Composite Index (NCI) softened moderately, down 4.65 points on the week at 563.83.

Nitrogen

  • Nitrogen prices were lower across the board with anhydrous leading to the downside.nitrogen indices chart
  • Anhydrous fell $14.77 by the short ton regionally. Ohio led the downward charge, falling sharply in corrective price action. Michigan fell $18.06 and Iowa softened $4.32. Just two of twelve states posted a higher price; Indiana firmed $42.30 and North Dakota gained $1.43.
  • UAN32% was led lower by Iowa, off 74 cents per ton and Indiana down 20 cents. Most states were unchanged but Illinois firmed 27 cents as Kansas added 4 cents per short ton.
  • Urea was lower on softness in Iowa, Minnesota and Missouri, all to the tune of around 5-6 bucks. North Dakota urea firmed $4.16 and South Dakota gained $2.19.
  • UAN28% fell under the weight of a $13.99 price cut in Iowa and a $6.31 decline in Minnesota. South Dakota 28% gained $6.08 and Ohio firmed $1.84.
  • You should be 100% filled on fall nitrogen.

Phosphate

  • Phosphate prices were lower on the week.
  • MAP softened $5.84 with Indiana down nearly $50 per short ton and Minnesota shucking $20.80. most states were unchanged and the only state to post a price gain was south Dakota, up $3.86.p and k indices chart
  • DAP was lower as well led by Michigan, down $19.50 and Indiana, which fell $5.47.
  • According to MosaicCo., wholesale phosphates were mostly lower with Central Florida terminals sideways in the week ended October 25.
  • You should be 100% filled on fall phosphates.

Potash

  • Potash was our sole gainer this week.
  • North Dakota added $7.15 and South Dakota firmed $4.49. Minnesota led declines falling $3.44 as Iowa trimmed $1.06.
  • According to MosaicCo., wholesale potash prices were lower at U.S. terminals during the report week.
  • You should be 100% filled on fall-applied potash..

Corn Futures

  • December 2020 corn futures closed Friday October 25 at $4.07 putting expected new-crop revenue (eNCR) at $672.32 per acre.
  • With our Nutrient Composite Index (NCI) at 563.83 this week, the eNCR/NCI spread narrowed 0.63 points and stands at -108.49.
Fertilizer
10/14/19
10/21/19
Change
Current Week
Fertilizer
Anhydrous
$514.18
$516.21
-$14.77
$501.44
Anhydrous
DAP
$458.77
$455.49
-$1.89
$453.60
DAP
MAP
$456.04
$459.14
-$5.84
$453.29
MAP
Potash
$373.22
$375.31
+65 cents
$375.96
Potash
UAN28
$259.06
$260.50
-$1.16
$259.34
UAN28
UAN32
$284.45
$286.13
-$1.98
$284.15
UAN32
Urea
$398.54
$393.38
-$1.60
$391.78
Urea
Composite
567.98
568.48
-4.65
563.83
Composite

nutrient composite index  chart

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