Fertilizer Price Action Remains Mild

Posted on 04/23/2020 12:42 PM

 

  • Fertilizer prices were mixed but lower on the week overall.
  • Our Nutrient Composite Index (NCI) softened 0.57 points to 538.62.
Fertilizer
4/6/20
4/13/20
Change
Current Week
Fertilizer
Anhydrous
$510.91
$510.65
+5 cents
$510.70
Anhydrous
DAP
$420.14
$420.74
-$2.20
$418.54
DAP
MAP
$420.37
$419.84
-$1.60
$421.45
MAP
Potash
$360.35
$360.00
-56 cents
$359.44
Potash
UAN28
$238.02
$242.92
+2 cents
$242.94
UAN28
UAN32
$275.61
$274.50
-$1.51
$273.00
UAN32
Urea
$372.20
$378.77
+39 cents
$379.16
Urea
Composite
536.67
539.19
-0.57
538.62
Composite

Corn Futures

  • December 2020 corn futures closed Friday April 17 at $3.43 putting expected new-crop revenue (eNCR) at $559.68 per acre, down $12.32 on the week.
  • With our Nutrient Composite Index (NCI) at 538.62 this week, the eNCR/NCI spread narrowed 11.75 points and stands at -21.06.nitrogen indices chart

Nitrogen

  • Price action in nitrogen was very mild this week.
  • Urea led gains firming 39 cents per short ton. Wisconsin added $2.89 and South Dakota firmed $1.51. Meanwhile North Dakota softened $2.61 as Ohio urea dropped 59 cents.
  • Anhydrous was a nickel higher per short ton with Wisconsin posting the only price gain, up $9.74 this week. All other states were unchanged or lower with Indiana NH3 off $3.60 and Illinois down $2.87.
  • UAN28% was all of 2 cents higher by the short ton this week. Ohio firmed $6.60 as Illinois gained $5.16. All other states were unchanged or lower with Wisconsin off $6.27 and South Dakota down $5.06.
  • UAN32% was our sole decliner in the nitrogen segment falling a buck and a half on the week. Wisconsin led declines falling $9.12 as Indiana softened $6.67. Gains in 32% were confined to Kansas to the tune of 96 cents per short ton. All others were unchanged or slightly lower on the week.p and k indices chart

Phosphate

  • Phosphates were mixed with MAP higher and DAP off a few bucks regionally.
  • DAP was pulled lower by Indiana, which softened $13.20 and Illinois fell $12.50. Wisconsin DAP firmed $1.93.
  • MAP was $1.60 higher with Illinois up a solid $22.30 and South Dakota gaining $2.76. Meanwhile Ohio softened $3.91 and North Dakota fell $2.84.
  • According to MosaicCo., wholesale DAP and MAP values were mixed at U.S. terminals with gains and declines nearly offsetting each other in the week ended April 17.

Potash

  • Potash prices softened on the week led by a $3.75 decline in South Dakota as Illinois dropped $3.49.
  • On an indexed basis, potash is overpriced compared to NH3 but priced slightly below this week's Nutrient Composite Index.
  • According to MosaicCo., during the report week, wholesale potash prices were slightly higher at NOLA and in the Corn Belt during the report week.

Butrient Composite Index chart


 

 

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