Inputs Monitor Regional Index -- Lower Pricing Suggests Demand Trough

May 28, 2013 04:20 AM
 

Nutrient pricing softened as declines outpaced gains by a margin of 14.07 -- declines totaled $14.24 to gains' 17 cents. Heavy precipitation moved through the Midwest with some areas finding up to 5 inches in the rain gauge by this morning. That will continue to delay field work through the rest of the week.betweem the whees

December corn futures found some strength -- opening today at $5.42 -- and trends suggest positive price movement in corn futures can firm retail nutrient pricing. But a seasonal demand trough has opened the downside for nutrient as the window for anhydrous and P&K applications has come and gone, softening demand.

Upward movement was found in UAN28 which added just 17 cents and accounted for the only uptick regionwide in this week's index. But as nutrient remained flat and even fell in some areas, Iowa solutions moved strongly higher with 32% adding $18.29, signaling a trend toward late season N applications.

We expect UAN solutions to capture N demand through the rest of this season. Weather will keep growers out of the field in the central Belt this week. Elsewhere, time is running out to get corn in the ground, and that timing may influence N applications as much as the mud.

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Opportunities to book for fall may be here. Anhydrous, DAP/MAP, Potash, 32%, Farm Diesel and LP all moved lower. The strongest declines came in Potash, but we observed prices falling dramatically for NP&K locally. See our advice alert for more...

Anhydrous moved $3.69 lower to $870.70; UAN28 $0.17 higher to $401.84; UAN32 lower, dropping $0.32 this week to $441.19; Urea moved just 3 cents lower to $562.45.

DAP $2.73 lower to $634.06 along with a $3.34 decrease in MAP to $652.11.

Potash falls $4.12 to $580.79/ton.

Farm diesel $0.001 lower this week at $3.423; LP down slightly, shaving one penny off the regional price to $1.449/gallon.

Nutrient/Fuel
5/13/13
5/20/13
Current Week
Week-over Change
Anhydrous
$874.43
$874.39
$870.70
-$3.69
DAP
$635.38
$636.79
$634.06
-$2.73
MAP
$653.81
$655.45
$652.11
-$3.34
Potash
$586.37
$584.91
$580.79
-$4.12
UAN28
$402.67
$401.67
$401.84
+$0.17
UAN32
$445.97
$441.51
$441.19
-$0.32
Urea
$564.69
$562.48
$562.45
-$0.03
Farm Diesel
$3.427
$3.432
$3.423
-$0.001
LP
$1.466
$1.459
$1.449
-$0.01
Composite
463.138
462.457
460.893
-1.56

 


Photo credit: D Michaelsen, Inputs Monitor

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