Weekly Fertilizer Bulletin | UAN28% Unchanged as NH3 Firms

Posted on 02/16/2018 11:05 AM

 

  • Fertilizer prices were mostly higher again on the week.
  • Our Nutrient Composite Index firmed 0.66 points to 526.82, which compares to last year's 513.58.nitrogen indices

Nitrogen

  • Anhydrous ammonia led gains in the nitrogen segment.
  • UAN32% and urea also posted gains on the week.
  • UAN28% was unchanged and is our lowest-priced form of nitrogen this week.
  • It is important to note, however, that all four forms of nitrogen in our survey are now priced above the same week last year.

Phosphate

  • Phosphate prices were mixed with DAP firming and MAP softening slightly.
  • The DAP/MAP spread is very wide at 30.50 on an expected range around 15-20.
  • On an indexed basis, MAP is currently more than 100 points above anhydrous ammonia and maintains the distinction of being the highest-priced nutrient in our survey. It is unclear at what point pandk indicesNorth American producers will ramp up production to take advantage of the higher price, but supplies will have to firm before phosphate prices will soften.

Potash

  • Potash prices are only mildly higher this week, firming just 13 cents per short ton.
  • Current prices are $17.55 above year-ago.
  • World shipping costs are propping prices up, but as retail values rise, producers in Russia, Belarus and Israel may increase production in order to secure marketshare.
  • Wholesale potash prices were lower at NOLA but slightly higher in the Corn Belt last week suggesting a softer near-term tone for vitamin K.

Corn Futures

  • December 2018 corn futures closed Friday, February 9 at $3.92 putting expected new-crop revenue (eNCR) at $623.90 per acre -- unchanged on the week.
  • With our Nutrient Composite Index (NCI) at 526.82 this week, the eNCR/NCI spread narrowed 0.66 points and now stands at -123.73.
Fertilizer
1/29/18
2/5/18
Change
Current Week
Fertilizer
Anhydrous
$495.75
$498.83
+$3.07
$500.17
Anhydrous
DAP
$459.25
$466.07
+$6.82
$467.52
DAP
MAP
$507.07
$498.16
-$8.91
$498.02
MAP
Potash
$343.31
$339.79
-$3.51
$339.92
Potash
UAN28
$224.84
$232.94
+$8.09
$232.94
UAN28
UAN32
$255.55
$250.86
-$4.69
$251.26
UAN32
Urea
$355.59
$361.75
+$6.16
$362.23
Urea
Composite
524.44
526.16
+0.66
526.82
Composite

nci chart

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