Fertilizer Bulletin | Fertilizers Firm, but Uptrend Flattens

Posted on 06/10/2019 4:35 PM

 

  • Fertilizer prices were higher on the week, but only slightly.
  • Our Nutrient Composite Index (NCI) firmed 0.50 points to 635.96.

Nitrogennitrogen indices chart

  • Nitrogen prices were mixed with urea leading gains on strength in North Dakota and Wisconsin.
  • UAN28% firmed nearly as much as urea, led by gains in North Dakota and Michigan.
  • Anhydrous ammonia led declines within the nitrogen segment, falling 55 cents by the short ton. Nebraska led declines, falling $11.30 on the week. Other price moves were much smaller, both to the upside and to the downside.
  • UAN32% fell just a penny by the short ton on the week with Illinois and Kansas leading to the downside.

Phosphate

  • Phosphate prices were lower on the week with DAP and MAP both falling roughly $1.50.p and k indices chart
  • No state posted a higher MAP price this week and DAP was pressured by price softness in Kansas.
  • According to MosaicCo., wholesale phosphate prices in the week ended June 7 were lower at all US terminals but NOLA where both DAP and MAP firmed.

Potash

  • Potash softened 84 cents in this week's regional average with Kansas and Wisconsin leading declines.
  • MosaicCo. reports sideways to lower wholesale potash values during the report week.

Corn Futures

  • December 2019 corn futures closed Friday June 7 at $4.33 putting expected new-crop revenue (eNCR) at $718.08 per acre -- lower $17.60 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 635.96 this week, the eNCR/NCI spread narrowed 18.10 points and now stands at -82.12.
Fertilizer
5/28/19
6/3/19
Change
Current Week
Fertilizer
Anhydrous
$616.99
$614.80
-55 cents
$614.26
Anhydrous
DAP
$517.24
$517.20
-$1.56
$515.64
DAP
MAP
$532.96
$533.60
-$1.63
$531.97
MAP
Potash
$394.02
$393.95
-84 cents
$393.11
Potash
UAN28
$278.44
$281.17
+$2.29
$283.46
UAN28
UAN32
$316.08
$316.68
-1 cent
$316.67
UAN32
Urea
$431.65
$435.26
+$2.83
$438.08
Urea
Composite
633.86
635.46
+0.50
635.96
Composite

nutrient composite index chart

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