Inputs Monitor Iowa Basis - Period Ended 10/09/12

October 11, 2012 06:30 AM
 

Inputs Monitor Iowa v. USDA basis stands at 2.2 on a state-state comparison of local fertilizer prices; regional nutrient basis at 1.03. The table below is a side-by-side comparison of average retail prices reported by USDA and prices reported to your Inputs Monitor for the two-week period ended October 09, 2012. Inputs Monitor's Iowa numbers (state-over) and Inputs Monitor Regional Index numbers (region-over) are compared separately to USDA findings.

The widest basis in the Iowa Monitor v. USDA comparison is Farm Diesel where USDA pegs the Iowa price at $3.77/gallon; Inputs Monitor records a 5.8% difference below USDA at $3.55/gallon. Urea holds the widest basis at 8.9% in the Monitor Regional Index - USDA $669.58 to Inputs Monitor's $594.50 regionally.

All other values come in at-or-below +/-5.8%. UAN32 holds the widest margin to the good in the state-over comparison at $423.00, 2.1% above USDA's $413.25. Iowa Potash showed the thinnest basis again, just 0.34% above USDA state-over to $612.00, but falls to 1.8% below USDA at $600.83.

The thinnest regional basis shows up in region-over MAP which registers a 0.025% spread in favor of USDA data. USDA MAP $681.57 above Inputs Monitor's $660.17 regionally.

When compared with the Inputs Monitor Regional Index total average for the week, USDA Iowa basis currently at 2.2 statewide, Inputs Monitor Regional values are closer to USDA, at 1.03.

USDA vs Monitor

Period ended 10/09/12

USDA, IA

Inputs Mon., Iowa

(State-over)

+/- %

Inputs Mon., Index

(Region-over)

+/- %
Anhydrous
$824.50
$805.00
2.3% below
$850.75
5.3%
Urea
$669.85
$653.00
2.5% below
$594.50
8.9% below
UAN28
$392.60
$375.00
4.4% below
$379.00
1.0%
UAN32
$413.75
$423.00
2.1%
$446.00
5.1%
MAP
$681.57
$660.00
3.1% below
$660.17
0.025% below
Potash
$609.86
$612.00
0.34%
$600.83
1.8% below
Farm Diesel
$3.77
$3.55
5.8% below
$3.687
3.7%
LP
$1.32
$1.30
1.5% below
$1.354
3.9%
Basis
 
 
2.2
 
1.03

(Prices for DAP were omitted by USDA from their survey, and, therefore, do not appear in this analysis.)

Statistical notes...

These USDA figures are based on statewide averages. As a result, local prices may vary. Anhydrous ammonia showed a $31.90 drop period-over to an average price of $824.50 from a range of $750.00 - $900.00. USDA Urea $578.00 - $831.25, a $253.25 price range - down $17.46 on the period. Upward movement period-over shows up in UAN28 up $4.89; MAP up $13.37; LP two cents higher and Farm diesel seventeen cents higher period-over.

Keep an eye on your Inputs Monitor at profarmer.com, and look for more basis and pricing updates as information becomes available.


 

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