- 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
- 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.
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.
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