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Text highlights from USDA’s March World Agricultural Supply and Demand Estimates Report.

Farm fuels drafted higher on higher crude oil and heating oil futures. Propane has just about seen its day for this winter, but diesel demand is just starting to perk up. This week’s report includes audio commentary from Scott Davis on global crude oil supplies.

Watch all three segments that Pro Farmer Editor Brian Grete took part in over the weekend on U.S. Farm Report with Tyne Morgan.

P&K prices may continue to fall with potash holding the greatest chance of price softness. Phosphate prices may be supported by spring demand, especially in areas where supplies run thin.

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This restored tractor sold on Feb. 20, 2016

South American Crop Consultant Dr. Michael Cordonnier raised his soybean crop pegs as harvest advances in Brazil.

AGDAY

U.S. phosphate producers announced more production cuts earlier this month and asserted that current phosphate prices are “attractive to farmers”. But when compared to the price of corn, phosphate prices may have farmers doing a little curtailing of their own.

Potash producers have been scrambling to muster returns to shareholders and stop the bleeding in global potash markets. Meanwhile phosphate posts the smallest year-over decline of all our surveyed fertilizers.