Inputs Monitor Regional Index -- Nitrogen Firms Slightly

June 17, 2013 04:56 AM
 

Nutrient pricing firmed slightly during the report week and gains outpaced declines by a margin of 0.627 with gains adding 3.36 to declines' 2.73. Potash, UAN solutions and urea all moved higher while fuels declined.

December corn futures fell sharply week-on-week opening today at $5.28 -- 23 cents lower from last Monday's open. At projected 152 bu./acre yield, $5.28 corn would fetch $764.56/acre putting your NPK target at $137.62/acre.

Front-month natural gas futures opened today at $3.74 and moved immediately higher to top at $3.83 and $3.845. Bulls next target is a move above $3.85 which would signal upside potential to $4.18. Bears may find their run is over. A move below $3.71 would signal downside potential to $3.60.

Declines of Note --

Anhydrous continued its bear run softening $1.57 to a regional average of $863.25 led by a 10 dollar decline in Kansas and a 6 dollar fall in Illinois. Kansas also shed 10 dollars from the price of DAP to $605.48.

Wisconsin MAP fell $23.20 to $614.47 -- this decline was offset by a $22.90 uptick in Illinois MAP.

Gains of Note --

Potash pricing took another surprising step toward the upside led by an $11.94 increase in Ohio to $586.76.

UAN solutions and urea also moved higher, but increases were mild. Michigan added $10.41 to the local urea price to end at $581.10. Minnesota urea also higher, adding $10.39 to $571.52. Ohio sports the largest increase in solutions adding $8.24 to $408.74 for 28%.

Indiana LP added 13 cents to $1.73 -- 30 cents above the current regional average.

-----------------------------

Regionally --

Anhydrous moved $1.57 lower to $863.25; UAN28 $0.74 higher to $400.25; UAN32 firms one cent this week to $438.98; Urea moved $1.28 higher to $560.65.

DAP $0.67 lower to $629.37 along with a $0.48 decrease in MAP to $648.50.

Potash firms $1.33 to $581.00/ton.

Farm diesel $0.008 lower this week at $3.427; LP down slightly, shaving $0.003 off the regional price to $1.437/gallon.

Nutrient/Fuel
6/3/13
6/10/13
Current Week
Week-over Change
Anhydrous
$869.07
$864.82
$863.25
-$1.57
DAP
$632.60
$630.03
$629.37
-$0.67
MAP
$649.52
$648.98
$648.50
-$0.48
Potash
$579.29
$579.67
$581.00
+$1.33
UAN28
$400.86
$399.26
$400.25
+$0.74
UAN32
$438.54
$438.97
$438.98
+$0.01
Urea
$563.51
$559.37
$560.65
+$1.28
Farm Diesel
$3.431
$3.435
$3.427
-$0.008
LP
$1.446
$1.440
$1.437
-$0.003
Composite
459.810
458.445
458.543
+0.10

 


 

 

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