Fertilizer Bulletin | Urea Bolts Higher

Posted on 05/30/2019 3:59 PM

 

  • Fertilizer prices were mostly higher on the week.
  • Our Nutrient Composite Index (NCI) firmed 2.36 points to 633.86.

Nitrogennitrogen indices chart

  • Nitrogen prices were mixed on the week with anhydrous ammonia leading declines on price softness in Kansas and Minnesota.
  • UAN28% followed NH3 to the downside with Missouri and Iowa leading the way down.
  • Urea led gains in the nitrogen segment this week with Nebraska up $28.43 and Iowa adding $19.35 by the short ton.
  • UAN32% was higher as well, up $1.89 on the week with Iowa and Nebraska leading gains.

Phosphate

  • Phosphates were lower on the week with MAP off 70 cents per short ton regionally and DAP falling 24 cents per short ton.
  • According to MosaicCo., in the week ended May 24, wholesale DAP prices were sideways to lower and wholesale MAP prices were down at NOLA and in Brazil.p and k indices chart

Potash

  • Potash prices firmed $1.20 on the week with Iowa and Michigan leading gains.
  • According to MosaicCo., wholesale potash prices fell at NOLA and were sideways at other U.S. terminals.

Corn Futures

  • December 2019 corn futures closed Friday May 24 at $4.19 putting expected new-crop revenue (eNCR) at $697.38 per acre -- higher $37.17 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 633.86 this week, the eNCR/NCI spread softened 34.81 points and now stands at -63.52.
Fertilizer
5/13/19
5/20/19
Change
Current Week
Fertilizer
Anhydrous
$619.10
$620.08
-$3.09
$616.99
Anhydrous
DAP
$517.65
$517.47
-24 cents
$517.24
DAP
MAP
$533.03
$533.66
-70 cents
$532.96
MAP
Potash
$392.34
$392.83
+$1.20
$394.02
Potash
UAN28
$278.87
$278.89
-45 cents
$278.44
UAN28
UAN32
$313.60
$314.19
+$1.89
$316.08
UAN32
Urea
$419.35
$421.35
+$10.31
$431.65
Urea
Composite
630.56
631.50
+2.36
633.86
Composite

nci chart

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