Potash Levels Off

February 19, 2013 08:11 AM
 

Potash remained unchanged over the previous week in the most recent Inputs Monitor Regional Market Report at $585.08. Potash has been making its way lower since reaching a recorded high of $641.25 in early June, 2012. The chart below details the movement of K over last week and some states are seeing some much needed declines.

K 2/18/13
Previous Week
Current Week
Change
Iowa
$591.00
$592.00
+1.00
Illinois
$587.00
$584.00
-3.00
Indiana
$583.00
$583.00
unchanged
Ohio
$582.00
$582.00
unchanged
Wisconsin
$549.00
$554.00
+5.00
Michigan
$564.00
$565.00
+1.00
Minnesota
$583.00
$585.00
+2.00
South Dakota
$590.00
$581.00
-9.00
North Dakota
$575.00
$578.00
+3.00
Nebraska
$625.00
$627.00
+2.00
Missouri
$582.00
$580.00
-2.00
Kansas
$610.00
$610.00
unchanged

Gainers and decliners match up dead even as they both produced $14 in week-over gains/declines offering a mixed bag of pricing moves. But, much like the NH3 news this week, growers in some states are positioned to take advantage of the week-over dip in K.

South Dakota showed the most impressive declines during the week where K slid a full $9.00. Illinois shed $3.00 and Missouri moved $1.00 lower. Three states remained unchanged, pausing at $583.00 in Indiana, $582.00 in Ohio and $610.00 in Kansas.

International reports are that India has finished making tenders with Jordan, Israel and Germany leaving that nation needing less than 1 million tons of K before tenders catch up with expected 2013 demand. These deals were made at the price previously agreed to by Canpotex at $427 FOB suggesting the international market is satisfied with current pricing.

In the mean time, Potash may show some further declines like the ones here before spring -- North American inventories are still very high -- but application demand will more likely push prices sideways to slightly higher in a seller's market.


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