Fertilizer prices were mixed, but no fertilizer posted a price move greater than 99 cents per short ton on the week.
- Our Nutrient Composite Index (NCI) firmed 0.51 points to 541.02.
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Fertilizer
|
4/27/20
|
5/4/20
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Change
|
Current Week
|
Fertilizer |
|
Anhydrous
|
$509.21
|
$506.80
|
-22 cents
|
$506.58
|
Anhydrous |
|
DAP
|
$419.23
|
$422.98
|
+67 cents
|
$423.66
|
DAP |
|
MAP
|
$420.20
|
$418.43
|
+31 cents
|
$418.74
|
MAP |
|
Potash
|
$357.78
|
$356.99
|
-10 cents
|
$356.88
|
Potash |
|
UAN28
|
$244.08
|
$245.07
|
+54 cents
|
$245.61
|
UAN28 |
|
UAN32
|
$271.81
|
$274.00
|
+4 cents
|
$274.04
|
UAN32 |
|
Urea
|
$372.58
|
$387.10
|
+99 cents
|
$388.09
|
Urea |
|
Composite
|
536.49
|
540.51
|
+0.51
|
541.02
|
Composite |
Corn Futures
- December 2020 corn futures closed Friday May 8 at $3.35 putting expected new-crop revenue (eNCR) at $545.60 per acre, unchanged on the week.
- With our Nutrient Composite Index (NCI) at 541.02 this week, the eNCR/NCI spread narrowed 2.27 points and stands at -4.58.
Nitrogen
- Nitrogen prices were mixed but mostly higher.
- Urea led gains in the nitrogen segment, firming 99 cents per short ton. Michigan led to the upside gaining $4.85 and Indiana rose $1.67. No state posted a lower urea price on the week.
- UAN28% gained 54 cents per short ton. North Dakota firmed $2.63 and Michigan gained $1.93. As with urea, no state posted a lower price on the week.
- UAN32% rounds out nitrogen gains adding just 4 cents per short ton. Minnesota firmed $1.17 as Michigan 32% fell 53 cents and Nebraska shucked 22 cents. All other states were unchanged on the week.
- Anhydrous ammonia was the sole decliner in the nitrogen segment falling 22 cents on the week. Indiana softened $3.92 as Nebraska firmed 84 cents and Missouri added 45 cents per short ton. All other states were unchanged this week.
Phosphate
- Phosphates were slightly higher on the week with DAP up 67 cents and MAP 31 cents per short ton higher.
- Only two states posted a fresh DAP price this week. Michigan firmed $5.90 as Indiana gained $1.50. All other states were unchanged on the week.
- MAP in Michigan firmed $2.56 and Indiana rose 82 cents. Offsetting, Nebraska softened 78 cents per short ton.
- According to MosaicCo., wholesale DAP and MAP prices softened at U.S. terminals in the week ended May 8.
Potash
- Potash softened an even dime regionally this week.
- Michigan softened $3.99 and Ohio dropped 83 cents. Meanwhile, North Dakota potash gained $1.75 and South Dakota firmed $1.17 per short ton.
- Our indexed potash price has not moved much and remains in-line with phosphates and UAN28%. Anhydrous remains at a decent discount to that figure as urea and UAN32% hold a stubborn premium.
- According to MosaicCo., during the report week, wholesale potash prices softened at U.S. terminals.
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