Phosphates Lead Price Volatility

Posted on 04/09/2020 1:06 PM

 

  • Fertilizer prices were mildly higher with most fertilizers little changed on the week.
  • Our Nutrient Composite Index (NCI) firmed 0.57 points to 536.67.
Fertilizer
3/21/20
3/28/20
Change
Current Week
Fertilizer
Anhydrous
$509.08
$509.08
+$1.83
$510.91
Anhydrous
DAP
$419.04
$427.68
-$7.54
$420.14
DAP
MAP
$409.14
$413.75
+$6.63
$420.37
MAP
Potash
$359.07
$359.08
+$1.27
$360.35
Potash
UAN28
$236.76
$238.29
-26 cents
$238.02
UAN28
UAN32
$274.62
$275.86
-24 cents
$275.61
UAN32
Urea
$368.04
$370.62
+$1.58
$372.20
Urea
Composite
532.35
536.10
+0.57
536.67
Composite

Corn Futures

  • December 2020 corn futures closed Friday March 27 at $3.50 putting expected new-crop revenue (eNCR) at $572.00 per acre.
  • With our Nutrient Composite Index (NCI) at 536.67 this week, the eNCR/NCI spread narrowed 25.21 points and stands at -35.33.nitrogen indices chart

Nitrogen

  • Nitrogen prices were mixed with NH3 and urea higher as UAN solutions softened.
  • Anhydrous led gains with Minnesota up $12.63 and Nebraska firming $5.40. North Dakota led declines in NH3 falling $5.19 as Indiana dropped 13 cents per short ton.
  • Urea was mildly higher as well with Illinois up $11.60 and Nebraska gaining $7.18. Ohio softened $9.39 as Wisconsin fell $3.36.
  • UAN28% softened 26 cents per short ton regionally with Wisconsin off $11.32 and Ohio down $6.70. Missouri offset declines gaining $11.00 as Illinois added $6.59.
  • UAN32% was down 24 cents per short ton with Wisconsin down $10.20 and Indiana off $3.34. Minnesota 32% firmed $7.82 as Illinois added $6.23.p and k indices

Phosphate

  • Phosphates were mixed and wound up priced almost at exact parity this week.
  • DAP fell $7.54 regionally with Ohio correcting $31.20 lower as Michigan dropped $16.00. No state posted a higher DAP price this week.
  • MAP moved in the other direction, firming $6.63 regionally. Illinois corrected more than $100 higher on the week as Minnesota gained $2.18. Ohio MAP fell $18.10 and Wisconsin slid $16.40.
  • According to MosaicCo., in the week ended April 3, Wholesale phosphate prices were mixed with Tampa DAP lower as both DAP and MAP firmed at the NOLA terminal.

Potash

  • Potash was slightly higher this week.
  • Illinois blasted $19.32 higher and Minnesota gained $7.86. Michigan softened $6.56 and Wisconsin fell $5.46.
  • According to MosaicCo., during the report week, wholesale potash prices firmed slightly at U.S. terminals.

nutrient composite index


 

 

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