Nutrient pricing took a bounce in today's Inputs Monitor Index and while the general trend was upward, a closer look at week-on-week action shows some bargains and some landmines.
I use the term bargains loosely here. This analysis is based on price decreases of note compared to last week's pricing and the statewide average.
The largest downside move is a $71.00 cannonball in Wisconsin Anhydrous which is currently at $821.00/ton, $53.30 below the regional average. Kansas NH3 is still the regional low at $801.00/ton, and a $12.38 decline to $871.29 in Missouri rounds out this week's NH3 movement to the downside.
Other decliners of note include Michigan DAP falling $36.00/ton -- still ten dollars above the regional average, but a $36 reduction is hard to ignore. Michigan LP also gives growers something to smile about as it currently sports a rare $1 handle. MI LP has been solid around $2.10 but dips this week to $1.76.
Farm Diesel and UAN28 are both favorable in Iowa where Farm Diesel fell a full dime to $3.38 while 28% solution fell $11 below the regional average on a $7.59 weekly slide to $389.41. Minnesota Farm Diesel followed suit, falling a dime of its own to $3.44.
This analysis highlights upward movers of note, and it got ugly in some key areas. Missouri (MO) saw generous declines in anhydrous pricing, but experienced strong gains in 3 other nutrients. MO DAP added $44.00, MO potash added $34.32 and MO 32% solution added a sanguine $56.00. All three of these increases priced these nutrients well above the regional average in Missouri, and as Missouri growers have a leg up weather-wise on the northern Belt, these increases may signal higher prices ahead once iron is in the field up north.
Wisconsin DAP $13.00 higher; South Dakota 32% up $12.00/ton while South Dakota potash adds $17.00/ton of its own.
For a closer look at your local pricing action, visit your Inputs Monitor and select your crop district. There you will find updated nutrient and fuel pricing. Check with your preferred local retailer as prices may vary by location.