Inputs Monitor Regional Market Report -- Nutrient Pricing Takes a Pause

March 25, 2013 06:10 AM
 

Nutrient offers a mixed bag of pricing moves during the report week with half moving higher and half moving lower. Overall, the composite index gained 0.252 points over last week, and movements on individual nutrients were small.

Gains outpaced decliners adding 5.512 to decliners' 2.979 -- a margin of 2.533. This tells the tale of a largely static market over the report week, and this trend is expected to continue until more of the nation has a chance to thaw. At that time, expect hand-to-mouth demand to dictate pricing to a degree, but all signs point toward little movement ahead.

Anhydrous falls $0.41 to $882.00 even; UAN28 climbs $1.75 to $392.58 after adding $2.58 the week before; UAN32 moves $0.67 higher to $436.55; Urea $1.92 higher to $569.58.

DAP continues to move lower dropping $1.75 to $641.41; MAP slightly higher, adding $0.92 to $655.50, eliminating last week's $0.92 fall.

Potash declines week-over, falling $0.75 to $580.08.

Farm diesel $0.063 lower to $3.566; LP falls as well -- down $0.006 to $1.499.

Nutrient/Fuel
3/11/13
3/18/13
Current Week
Week-over Change
Anhydrous
$881.50
$882.41
$882.00
-$0.41
DAP
$644.25
$643.16
$641.41
-$1.75
MAP
$655.50
$654.58
$655.50
+$0.92
Potash
$584.33
$580.83
$580.08
-$0.75
UAN28
$388.25
$390.83
$392.58
+$1.75
UAN32
$437.22
$435.88
$436.55
+$0.67
Urea
$567.16
$567.66
$569.58
+$1.92
Farm Diesel
$3.645
$3.629
$3.566
-$0.063
LP
$1.502
$1.505
$1.499
-$0.006
Composite
462.596
462.280
462.532
+0.252

Urea sports the largest gains in this week's index adding $1.92/ton. In fact, anhydrous was the only form of nitrogen in our index to fall. 28 and 32% solutions added $2.59/ton between the two of them while NH3 fell $0.41/ton. These small moves, however, have had little impact on the price per pound of N which still favors anhydrous at a current average of $0.53 cents per pound of N.

Reports are filtering in that growers are in the fields where possible. Wet weather had delayed field activity in the south while continued snow and winter weather holds much of the upper midwest hostage, delaying the start of the spring application.

Meanwhile, December 2013 corn futures have rallied, currently up six cents over the previous week to $5.67. Based on NPK price resistance at 18% of expected new-crop revenue, $156.09 is our current target for total NPK/acre.

Below is a table outlining the price of N/pound for each of 4 products in each of the 12 states.

Nitrogen pricing by pounds of N

Anhydrous $N/lb

Urea $N/lb
UAN28 $N/lb
UAN32 $N/lb
Iowa
$0.52
$0.67
$0.70
$0.66
Illinois
$0.54
$0.62
$0.68
$0.67
Indiana
$0.55
$0.63
$0.71
$0.73
Wisconsin
$0.54
$0.60
$0.66
$0.67
Minnesota
$0.54
$0.62
$0.70
$0.69
South Dakota
$0.55
$0.62
$0.71
$0.69
North Dakota
$0.52
$0.62
$0.68
not reported
Nebraska
$0.49
$0.63
$0.66
$0.66
Missouri
$0.54
$0.61
$0.71
$0.64
Kansas
$0.49
$0.62
$0.68
$0.67
Ohio
$0.58
$0.63
$0.71
not reported
Michigan
$0.55
$0.63
$0.70
not reported

(North Dakota, Ohio and Michigan do not report a UAN32 price.)


 

 

 

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