Inputs Monitor Regional Index Composite .31 lower week-over -- just a 0.06% change -- to 465.09.
Downstream inventories are reported to be at seasonal lows, and in some cases, depleted. International demand will play a role in refreshing pricing points going into the spring applications season and as downstream supplies dwindle, a number of dealers will be looking for the next opportunity to refill stocks in the next few weeks.
Anhydrous and UAN32 posted gains while farm diesel stood pat -- confirming a seasonal low is in place for farm diesel. All other nutrients fell week-over, but not by much. No single nutrient moved more than a full percentage point suggesting seasonal lows may be in place here as well.
Anhydrous marked the highest increase by percentage adding 0.41% -- $3.67 higher to $874.58; UAN32 not far behind adding $1.22 to end the report week at $430.77.
UAN28 falls $0.66 to $379.75; Urea sheds $0.58 -- 0.10% lower to $575.08.
DAP continues on a downward trajectory -- $1.83 lower to $654.00 -- another 0.27% decline. MAP again followed suit -- down $2.33 to $666.33.
Potash moves $2.25 lower to $600.33 as international demand from China seems to favor lower pricing.
Farm diesel steady at $3.57 at a suggested seasonal low, but falling temperatures are forecast for the Midwest later this week and increased distillate consumption for home heat could put pressure on farm diesel pricing.
LP also mostly steady -- falling 0.06% week-over to $1.443.
*A secondary analysis follows. These figures exclude statistical highs and lows...
With high/low figures excluded (HLEx), Inputs Monitor Regional Index Composite 0.52 lower week-over to 464.46 -- an 0.11% nod to the low.
Anhydrous posts the highest gain here also adding $3.20 to $874.50; UAN32 also higher -- up $1.72 to $428.57.
UAN28 falls $0.80 to $378.50; Urea 0.13% lower -- shucking $0.80 to end the report week at $575.90.
DAP $2.00 lower to $651.40; MAP slides $5.02 lower -- an early Christmas gift at $666.20.
Potash dips a full dollar to $600.10 -- a 0.16% decline.
Farm diesel steady to $0.01 higher -- relatively unchanged at $3.58, and LP remained unchanged to slightly lower dropping just $0.002 to end the week at 1.404.
Differential between the two analyses (standard figures v. HLEx) stands at 0.63 -- a 0.13% margin with the standard analysis on top at 465.09.