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ALERT 10/30/13: Hedge Spring Nutrient in Select States

October 30, 2013
By: Davis Michaelsen, Pro Farmer Inputs Monitor Editor

CROP PRODUCERS: Finish Fall Fill and Hedge Spring Nutrient in Select States

  • Top off various fall nutrient as indicated in the table below in Indiana, Kansas, Michigan, Missouri and North Dakota.
  • December 14 corn futures suggest upside risk for nutrient.
  • Annual runup looms, look to hedge portions for spring against winter price increases.
  • Click here for more...

 

Nutrient -- Top off remaining fall purchases to extend coverage to 100% -- but be cautious. Check with your preferred supplier as prices at many locations have already bounced. If prices have already floored in your area, cover fall needs first before considering hedge coverage on spring nutrient. In the states listed in the table, extend spring coverage on urea to 20%-40% and add 30% coverage on spring anhydrous or solutions.

Add 20% coverage to spring P&K to 20%.

State
Nutrient
Last Week
Change
Current Week
Regional Average
Indiana Anhydrous
$759.68
-$49.89
$709.79
$675.47
Indiana Urea
$504.30
-$46.66
$457.64
$462.22
Kansas Urea
$474.18
-$28.27
$445.91
$462.22
Michigan DAP
$582.92
-$57.50
$525.42
$526.73
Michigan MAP
$583.11
-$24.21
$558.90
$556.70
Missouri UAN32%
$380.00
-$85.00
$295.00
$340.23
Missouri Urea
$474.75
-$29.38
$445.37
$462.22
North Dakota Anhydrous
$730.75
-$66.97
$663.78
$675.47
North Dakota MAP
$579.86
-$38.51
$541.35
$556.70
North Dakota Potash
$512.57
-$42.93
$469.64
$486.15
North Dakota Urea
$463.33
-$42.57
$420.76
$462.22

 

  • LP Delivery delays could last a month.
  • 8 Midwestern states are currently under Hours of Service Waivers.
  • Prices may spike 10-15 cents in response.
  • More Midwestern rain today.

 

LP -- The following states are under an Hours of Service Waiver: North Dakota, South Dakota, Minnesota, Montana, Nebraska, Iowa, Wisconsin and Illinois. Growers in those states and all across the Corn Belt are advised to contact your preferred LP supplier today and look at least to front book top-off gallons at current pricing. Some of these Hours of Service Waivers will be in effect until Thanksgiving.

A Wisconsin supplier reported earlier this week he had sent trucks as for as North Carolina to pick up some LP for his customers. This cow may be out of the barn, but there is still time to throw a rope on it if you hurry. At least lock in your price today.

Position Monitor -- If you are already at these levels, HOLD.

Inputs Position Monitor
NH3
DAP
MAP
K
UAN28%
UAN32%
Urea
Farm Diesel
LP
Natural gas
Fall 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Spring 30% 20% 20% 20% 30% 30% 20-40% 20% 0% 0%

 

Prices may vary so, as always, check with your preferred supplier.


 

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