Posted on 05/06/2019 4:35 PM

 

  • Fertilizer prices were mostly lower for the second consecutive week.
  • Our Nutrient Composite Index (NCI) softened 3.24 points to 620.14.

Nitrogennitrogen indices chart

  • Nitrogen prices were mostly lower on the week led by anhydrous ammonia, which fell $9.45 regionally on the week. Minnesota, South Dakota and Nebraska led NH3 to the downside.
  • UAN28% was lower and after falling an impressive $8.88 by the short ton last week, 28% falls another $8.74 this week, placing it well below anhydrous ammonia's regional average price when considered on an indeed basis.
  • UAN32% dropped $5.03 on the week led by declines in Missouri and Minnesota.
  • Urea was higher on the week with Missouri and North Dakota leading gains.
  • Our regional average anhydrous ammonia price per ton has fallen back below one acre of expected new-crop corn revenue, although Monday's pressure on NH3 encr chartcorn futures had the two neck-and-neck as of Monday's close.

Phosphate

  • Phosphate prices were mixed on the week with DAP off $1.98 per short ton. Here again, Missouri led to the downside.
  • MAP gained $4.86 on the week with North Dakota and Minnesota topping the list of gainers.
  • According to MosaicCo, wholesale DAP and MAP prices were mostly lower with Central Florida product sideways during the week ended May 3.

Potashpandk indices chart

  • Potash fell this week with North Dakota and Iowa leading declines.
  • On an indexed basis, potash remains the least expensive nutrient in our survey.
  • According to MosaicCo, wholesale potash was higher in the Corn Belt -- likely due to transport difficulties -- and sideways at NOLA during the report week.

Corn Futures

  • December 2019 corn futures closed Friday May 3 at $3.87 putting expected new-crop revenue (eNCR) at $626.26 per acre -- higher $12.11 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 620.14 this week, the eNCR/NCI spread softened 15.35 points and now stands at -6.12.
Fertilizer
4/22/19
4/29/19
Change
Current Week
Fertilizer
Anhydrous
$624.90
$624.80
-$9.45
$615.35
Anhydrous
DAP
$517.60
$520.44
-$1.98
$518.45
DAP
MAP
$531.42
$529.98
+$4.86
$534.84
MAP
Potash
$388.78
$392.09
-4 cents
$392.05
Potash
UAN28
$289.18
$280.30
-$8.74
$271.56
UAN28
UAN32
$312.46
$313.05
-$5.03
$308.02
UAN32
Urea
$410.07
$404.78
+$7.85
$412.63
Urea
Composite
626.18
623.38
-3.24
620.14
Composite

nutriet composite index chart

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