Inputs Monitor Regional Market Report -- Early Applications Outrun Increases

April 29, 2013 04:11 AM
 

Nutrient pricing moved generally sideways in this week's Inputs Monitor Regional Index as gains added $5.43 to decliners' $4.39 for a margin of 1.04 in favor of gains. That shows us that nutrient that increased in price added more per ton to local pricing than those nutrients that posted price declines -- but not by much.nh3rolls1

Your Inputs Monitor reported in a Saturday Special that iron moved onto the fields in central Iowa early that morning, marking the first local fertilizer applications we have seen this spring. But as quickly as the application weather window opened, it has now slammed shut as the upper Midwest is expected to see rain for the next few days. This was a two day window of near-ideal conditions and we observed everything from dry product spreads and anhydrous knife-ins to seed going into the ground over the weekend.

Nutrient has shown a tendency to move higher in southern states as early applications indicate a near-term demand push, but these early central Midwest applications have outrun the price increases. The rain is expected to move out of the upper Midwest by the end of the week, however, and we may see nutrient pricing move higher in parts north once soil conditions recover.

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Anhydrous fell another $1.69 to $872.61; UAN28 adds $2.48 to $402.02; UAN32 falls $0.15 to $445.29 after adding over $10 the previous week; Urea $0.69 lower to $568.15.

DAP moves $1.83 lower to $637.31 while MAP firms $0.21 to $659.29.

Potash moves another $2.64 to $587.94 after moving $6.42 higher during the previous week.

Farm diesel $0.029 lower at $3.473; LP unchanged at $1.46.

Nutrient/Fuel
4/15/13
4/22/13
Current Week
Week-over Change
Anhydrous
$880.69
$874.30
$872.61
-$1.69
DAP
$635.91
$639.14
$637.31
-$1.83
MAP
$654.43
$659.08
$659.29
+$0.21
Potash
$578.88
$585.30
$587.94
+$2.64
UAN28
$397.93
$399.54
$402.02
+$2.48
UAN32
$435.25
$445.44
$445.29
-$0.15
Urea
$570.65
$568.84
$568.15
-$0.69
Farm Diesel
$3.530
$3.502
$3.473
-$0.029
LP
$1.495
$1.46
$1.46
unchanged
Composite
462.088
464.07
464.173
+0.103

 

Potash scored the highest gain adding $2.64/ton to $587.94 followed by UAN28 which added $2.48 of its own to end the week higher at $402.02/ton. The only other gain was a 21 cent uptick in MAP to $659.29/ton.

DAP and anhydrous both fell with DAP shedding $1.83/ton to 637.31. Anhydrous fell $1.69 to $872.61/ton regionally. Beyond that, dry urea continues its downward trek, falling 69 cents.

Farm diesel softened nearly three full cents to $3.473/gallon and LP unchanged at $1.46 as demand for home heat fades and these two have less competition for distillate and propane stocks.


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