Inputs Monitor Regional Market Report -- Nutrient Bucks to the Upside

April 22, 2013 04:58 AM
 

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Nutrient pricing moved noticeably higher during the report week with gains adding a combined $28.09 and decliners at $8.26. NH3, Urea, Farm Diesel and LP moved lower while all other nutrients spiked. Prices have been in a holding pattern for the last few weeks in anticipation of the spring application season.

Anhydrous fell a generous $6.39 to $874.30; UAN28 adds $1.61 to $399.54; UAN32 moves $10.19 -- yes, that's $10.19 in a single bound -- higher to $445.44; Urea $1.81 lower to $568.84.

DAP breaks its downward pattern to move $3.23 higher to $639.14; MAP also higher adding $4.65 to $659.08.

Potash gets an attitude and moves $6.42 higher to $585.30.

Farm diesel $0.028 lower at $3.502; LP fell $0.03 to $1.495.

Nutrient/Fuel
4/8/13
4/15/13
Current Week
Week-over Change
Anhydrous
$880.83
$880.69
$874.30
-$6.39
DAP
$638.83
$635.91
$639.14
+$3.23
MAP
$654.91
$654.43
$659.08
+$4.65
Potash
$580.66
$578.88
$585.30
+$6.42
UAN28
$398.16
$397.93
$399.54
+$1.61
UAN32
$435.66
$435.25
$445.44
+$10.19
Urea
$573.08
$570.65
$568.84
-$1.81
Farm Diesel
$3.530
$3.530
$3.502
-$0.028
LP
$1.496
$1.495
$1.46
-$0.03
Composite
463.021
462.088
464.07
+1.99

 

UAN32 posted the highest gains adding $10.19 as growers look ahead to sidedress, sparking some fresh demand for UAN solutions. 28% solution gained as well, but added just $1.61/ton.

Declines in ammonia continue to benefit anhydrous pricing as NH3 is on a seven week bear-run. Improvements in field conditions may inspire a sidedress related uptick here in the next few weeks, but current NH3 demand is weak. Increased imports of Chinese urea will also help keep urea on the downward path and eliminate some NH3 demand.

December '13 corn opened today at $5.47. Dec corn futures have struggled to find some upward movement since the last week of March. Uncertainty surrounding the lingering effects of last year's drought and strength in the stock market have kept buyers out of commodities. Once more planters are rolling, we should see some confidence return to corn futures, allowing for a nod to the upside.

 


 

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