P&K Today | Phosphate Demand Set to Wane

Posted on 05/02/2018 1:41 PM

 

  • DAP $37.45 above year-ago pricing -- lower $1.71/st on the week to $484.93/st.
  • MAP $49.19 above year-ago -- higher $1.63/st this week to $517.50/st.
  • Potash $12.03 above year-ago -- lower 1.04/st this week to $345.90/st.

Potash led declines in the P&K segment this week with North Dakota off $11.80 and Iowa $2.87 softer on the week. potash price chartThree states were unchanged as Michigan added $2.38 and South Dakota gained $1.11.

MAP was led lower by North Dakota, which fell $16.75 as Iowa dropped $3.04. Six states were unchanged as South Dakota gained $4.92 and Michigan firmed $3.60.

DAP was right behind MAP with Michigan off $3.94 and Minnesota and Kansas off $2.41. Seven states were unchanged as only Illinois posted a higher price on the week... up 94 cents per short ton.

If nitrogen demand is around half exhausted for this spring season, P&K demand must surely be on its last leg. While northern growers wait for soil temps to warm to a suitable temperature for planting, we note the Dakotas posting overall price declines on the week. The same goes for Minnesota with Michigan prices narrowly mixed.

phosphates price chartWe continue to watch phosphate production fundamentals for hints at an upcoming price slide. So far, no sign of relief. As spring demand dwindles, prices should trend lower, but DAP and MAP have a lot of work to do if they are to align themselves with the rest of the fertilizer segment.

By the Pound -- The following is an updated table of P&K pricing by the pound as reported to your Inputs Monitor for the week ended April 27, 2018.

DAP is priced at 50 1/2 cents/lbP2O5; MAP at 48 1/2 cents/lbP2O5; Potash is at 28 1/2 cents/lbK2O.

P&K pricing by the pound -- 5/2/2018

DAP $P/lb

MAP $P/lb
Potash $K/lb
 
Average
$0.50 1/2
$0.48 1/2
$0.28 1/2
Average
Year-ago
$0.46 3/4
$0.43 3/4
$0.27 1/2
Year-ago

pandk indices chart


 

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