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.
| Nutrient/Fuel | 3/11/13 | 3/18/13 | Change |
| Anhydrous | $881.50 | $882.41 | +$0.91 |
| DAP | $644.25 | $643.16 | -$1.09 |
| MAP | $655.50 | $654.58 | -$0.92 |
| Potash | $584.33 | $580.83 | -$3.50 |
| UAN28 | $388.25 | $390.83 | +$2.58 |
| UAN32 | $437.22 | $435.88 | -$1.34 |
| Urea | $567.16 | $567.66 | +$0.50 |
| Farm Diesel | $3.645 | $3.629 | -$0.016 |
| LP | $1.502 | $1.505 | +$0.003 |
| Composite | 462.596 | 462.280 | -0.316 |
