Weekly Fertilizer Bulletin | Fertilizers Ease Lower

Posted on 12/03/2018 4:19 PM

 

  • Fertilizer prices were mixed and lower overall on the week. DAP led gains as UAN28% narrowly out-softened NH3.
  • Our Nutrient Composite Index fell 0.71 points to 590.10. This compares to our 5-year average of 605.16 for this week.

Nitrogennitrogen indices chart

  • Nitrogen prices were mixed on the week with declines in NH3 and UAN28% outpacing gains in urea and UAN32%.
  • UAN28% led declines in the nitrogen segment with Illinois off 6 bucks per short ton.
  • Anhydrous was lower as well with South Dakota correcting $80 per short ton.
  • Urea led gains, firming $3.06 on the week with Indiana leading to the upside.
  • UAN32% was higher, but by less than a half-dollar by the short ton.

Phosphate

  • DAP led price gains in phosphates with Iowa and Illinois leading the way higher.
  • MAP was higher as well, but by less than a dollar per short ton.pandk indices chart
  • According to MosaicCo., wholesale prices were sideways to lower in the week ended November 30.

Potash

  • Potash prices softened 76 cents regionally on the week.
  • The premium potash holds to anhydrous widened slightly which may indicate near-term downside potential for both.
  • MosaicCo., reported wholesale potash prices sideways to lower at U.S. terminals.

Corn Futures

  • December 2019 corn futures closed Friday November 30 at $3.99 putting expected new-crop revenue (eNCR) at $647.02 per acre -- up $6.92 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 590.10 this week, the eNCR/NCI spread widened 7.63 points and now stands at -56.92.
Fertilizer
11/19/18
11/26/18
Change
Current Week
Fertilizer
Anhydrous
$539.16
$538.78
-$4.55
$534.23
Anhydrous
DAP
$522.39
$528.56
+$3.38
$531.93
DAP
MAP
$536.83
$540.60
+96 cents
$541.55
MAP
Potash
$363.02
$365.18
-76 cent
$364.41
Potash
UAN28
$261.74
$266.35
-$4.89
$261.46
UAN28
UAN32
$299.70
$291.93
+42 cents
$292.35
UAN32
Urea
$407.50
$413.87
+$3.06
$416.93
Urea
Composite
588.04
590.81
-0.71
590.10
Composite

nutrient composite index chart

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