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.