P&K Today: Baumgertner Back In Russia, P&K Steady

November 22, 2013 06:45 AM
 

P&K retail prices were mixed on the week with DAP and Potash moving lower as MAP firmed slightly.

Jailed Uralkali CEO Vladislav Baumgertner is out of Belarus, but not out of the woods. Baumgertner was extradited to a Russian minimum security prison earlier this week and while questions remain about his fate, Uralkali shares belonging to potash pariah Kerimov are now in the hands of Russian billionaire Mikhail Prokhorov. The primary conditions for a restart of the Belorussian Potash Co. joint venture have been met from both sides and the industry is already eyeing a recovery.

Whether BPC will reunite and hang out a new export shingle remains up to speculation. Click here for more...

Meanwhile, harvest progress is humming along and nearly complete and as I traveled to Des Moines this week, broadcast spreaders and honey wagons were making trips back and forth. On my way home yesterday, the weather turned icy and I didn't make it but 10 miles down the road before my truck was covered in a thin sheet of ice.

This morning, a blanket of snow covers central Iowa and points north and west. This may impact fall fertilizer applications for the next day or two, but will help to cool the soil to NH3 friendly levels.

This week --

  • DAP $127.12 below year-ago pricing -- down 11 cents on the week to $530.71/st.
  • MAP $107.27 below year-ago --up $1.62 this week to $561.98/st.
  • Potash $122.88 below-year ago -- down $1.52 this week to $481.29/st.
  • December 2014 corn futures opened 12 cents lower this morning than last week's P&K Today at $4.57 with the national average cash corn price 6 1/2 cents lower from last week at $4.19. Corn basis moved back above futures pricing to stand at 2 1/2 cents above December 13 futures.

 

By the Pound --

DAP 1/4 cent lower to 55 1/4 cents/lbP2O5; MAP firms 1/4 cent to 52 3/4 cents/lbP2O5; Potash unchanged on the week at 40 cents/lbK2O.

The following is an updated table of P&K pricing by the pound as reported to your Inputs Monitor for the week ended Nov.15, 2013.

P&K pricing by pound -- 11/22/2013

DAP $P/lb

MAP $P/lb
Potash $K/lb
Iowa
$0.57
$0.53
$0.40
Illinois
$0.55
$0.53
$0.40
Indiana
$0.55
$0.54
$0.39
Wisconsin
$0.54
$0.52
$0.37
Minnesota
$0.57
$0.53
$0.39
South Dakota
$0.55
$0.52
$0.43
North Dakota
$0.52
$0.52
$0.39
Nebraska
$0.51
$0.52
$0.43
Missouri
$0.57
$0.52
$0.40
Kansas
$0.56
$0.53
$0.42
Ohio
$0.53
$0.53
$0.40
Michigan
$0.61
$0.54
$0.38
Average
$0.55 1/4
$0.52 3/4
$0.40
Year-ago
$0.69
$0.62
$0.50

 

Wholesale --

MosaicCo reports wholesale DAP moved lower across the board softening $5.00 & $2.00/MT at Tampa and Morocco respectively, $12.00 lower in Central Florida, $23.00 lower at NOLA with MAP moving sideways. Wholesale potash softened $5.00 in the Corn Belt and ran sideways in Brazil and Southeast Asia. Raw phosphate rock from Morocco edged $5.00 higher and Tampa ammonia was unchanged for the second straight week.

The Percentages Year-over --

Potash softened 0.8% from last week to stand 18.3% below year-ago; DAP added another 1.3% to the year-on-year differential to 19.3% below year-ago; MAP firmed 0.3 % to 16% below last year's price, and anhydrous widened the year-over gap by 1.5% during the week to end at 21.8% below last year's price at this time.

 
Current regional average price/short ton
Percent of year-ago
Potash
$481.29
-18.3%
DAP
$530.71
-19.3%
MAP
$560.36
-15.7%
NH3
$671.06
-22.5%

 


 

 

 

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