Weekly Fertilizer Bulletin | Advice Updated | Feb. 20, 2018

Posted on 02/20/2018 12:37 PM

 

  • Fertilizer prices were mostly higher on the week.
  • Our Nutrient Composite Index firmed 5.07 points to 531.89, which compares to last year's 523.89.
  • We have updated our advice for spring fuels and fertilizer. Click here to read our advice.

Nitrogennitrogen chart

  • UAN32% led gains in the nitrogen segment this week.
  • UAN28% was the sole decliner in the nitrogen segment.
  • Urea was higher on the week as well, and, on and indexed basis is our highest priced form of nitrogen.
  • Anhydrous ammonia was higher on the week on gains in North Dakota and Nebraska.
  • This week's price action prompted us to book nitrogen. Click here to read our advice.

Phosphate

  • Phosphates were higher with both DAP and MAP moderately higher on the week.pandk indices
  • Recent strength in MAP has stretched the DAP/MAP spread to a very wide 32.34 points on an expected margin of 15-20 points.
  • Wholesale DAP values are higher at U.S. terminals as MAP values track sideways. Both, however, are solidly above year-ago, as is the case in our retail survey.
  • The ship seems to have sailed on an offseason price swoon and we advise growers to fill remaining phosphate needs for spring at current prices. Click here to read our advice.

Potash

  • Potash followed phosphate higher as the recovery continues.
  • Wholesale values at NOLA and in the Corn Belt are higher on the week but only slightly higher year-on-year.
  • Our thoughts on upside risk in phosphate are true for potash as well and we advise growers to fill remaining potash needs for spring at current prices. Click here to read our advice.

Corn Futures

  • December 2018 corn futures closed Friday, February 16 at $3.97 putting expected new-crop revenue (eNCR) at $632.40 per acre -- unchanged on the week.
  • With our Nutrient Composite Index (NCI) at 531.89 this week, the eNCR/NCI spread widened 2.77 points and now stands at -100.51.
Fertilizer
2/5/18
2/12/18
Change
Current Week
Fertilizer
Anhydrous
$498.83
$500.17
+$3.78
$503.95
Anhydrous
DAP
$466.07
$467.52
+$5.03
$472.54
DAP
MAP
$498.16
$498.02
+$6.86
$504.88
MAP
Potash
$339.79
$339.92
+$2.90
$342.83
Potash
UAN28
$232.94
$232.94
-$4.77
$228.17
UAN28
UAN32
$250.86
$251.26
+$8.46
$259.72
UAN32
Urea
$361.75
$362.23
+$4.23
$366.46
Urea
Composite
526.16
526.82
+5.07
531.89
Composite

nci

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