Regional Market Report -- Nutrient Holds Steady

Nutrient moved generally lower last week, but moves to either the upside or downside were minimal signaling the market is in a holding pattern as winter drags on. Late season snows were a welcome sight in the moisture deprived midwest, but as the snows continue, the spring application season is delayed.

Last year at this time it was 80 degrees in Minneapolis. I am in Minneapolis now and snow is falling with more predicted throughout the day. This weather pattern will keep a lid on upside action for fertilizer pricing, but once winter’s grip finally breaks, the narrow application window could push prices higher as hand-to-mouth nutrient buying sparks fresh demand.

Declines outpaced gains in regional pricing action nearly two-to-one in the Inputs Monitor Regional Market Report this week. The largest decline was a $3.50 slide in potash to $580.83. Behind that, 32% solution fell $1.34 and DAP shucks $1.09 to $643.16. The largest gain was in UAN28% solution which increased $2.58 to $390.83 followed by a $0.91 gain in anhydrous and a 50 cent increase in regional Urea pricing.

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Anhydrous adds $0.91 to $882.41; UAN28 climbs $2.58 to $390.83; UAN32 moves $1.34 lower to $435.88; Urea 50 cents higher to $567.66 -- a 0.08% increase.

DAP moves $1.09 lower to $643.16; MAP also sloghtly lower, trailing $0.92 to $654.58.

Potash leads declines week-over, falling $3.50 to $580.83.

Farm diesel $0.016 lower to $3.629; LP gains $0.003 to $1.505.