Pro Farmer's Leading Edge Conference was a great success and growers were in attendance from across the Corn Belt and beyond. Monday night included a reception to mark Pro Farmer's 40th year of serving the agricultural community and speakers included Jerry Carlson and Merrill Oster. Other Pro Farmer alum were also on hand to touch base with some old friends.
The Inputs Monitor presented at two sessions on Tuesday to share the global fertilizer outlook and the outlook here at home. It is always a treat and an education to rub elbows with subscribers, and Monitor subscribers are some of the smartest in the biz. These guys pulled no punches with me, and as my presentations progressed, I was pleased to have members of the audience jump in with their two-cents -- in some cases, it was closer to three or four-cents worth -- which puts us all the more ahead of the game.
The theme of my presentation was the importance of keeping an eye on world events as a barometer of things to come here in the states. In particular, I noted that a healthy Former Soviet Union would go a long way to keeping the rest of the world supplied with NPK, insulating the U.S. from pricing spikes. We talked about pipelines and teddy bears, communists and spilled milk, natural gas and domestic nitrogen production, all with an eye toward things to come.
The outlook includes continued strength in the short-term for anhydrous, but at 52 cents per lb/N, anhydrous is still the best nitrogen value, despite urea's $165 year-over price slide. We expect phosphate to remain at or nearly below current price levels, and potash remains in Saskatchewan surplus -- 20% above the five-year -- and we expect very limited upside potential for K.
Farm diesel pricing looks very much like it is at a low and is expected to inflate through the summer while LP may have just a little more downside room in the coming weeks. I advised to consider booking some farm diesel today and waiting a few weeks for a low in LP.
I am glad I had a chance to address subscribers and attendees with the vital information I have been able to dig up over the past year, and by all indications, we are on track to help growers profit by staying on top of the tangled web fertilizer weaves.
I hope you will get a chance to join me and the rest of the Pro Farmer stable of speakers at our next event. You will be glad you did, and when you do, make sure to say hello. I would love to hear what is on your mind.