All nutrient prices in the Inputs Monitor Index were in decline during the first week of November. Through the month of November, all nutrients tested resistance before ending the month in a 0.05% decline, according to composite figures. Farm diesel spent the entire month in decline.
The largest gains were in LP which moved .008 higher, a .56% increase to $1.397/gallon. Strong post-harvest demand pushed anhydrous higher -- up 4.40 to end the month at $860.95.
DAP and MAP wavered throughout the month, starting the month in decline but trending higher on demand uncertainty -- DAP up 3.06 to $650.31; MAP up 1.70 to $665.61.
Potash lagged to the low in the middle of the month, but ended the slightly higher -- up just 27 cents to $603.20.
UAN28 salvaged a decline falling .79 to $379.24; UAN32 also down 1.78 to $438.55; Urea dips as well -- down 4.80 to end the month at $586.61.
Farm diesel steadily lower throughout the month -- down .043, a 1.1% month-over decline to end at $3.697.
Strong storage data for both natural gas and crude had a moderating effect on fertilizer and fuel prices and we should expect prices to fall as autumn applications wind down. River levels will, however become more and more of an issue until it rains again...a lot.
The Army Corps. of Engineers already has designs on the Missouri River water flowing into the Mississippi River as northern aquifers need to be replenished as badly as the river. Nattie, and fertilizer with it, will stay soft as long as sufficient water is available for fracking up north.