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  • winallin12 winallin12 Apr 2, 2013 9:59 PM Flag

    weekly fertilizer review

    Weekly Fertilizer Review

    Weather, markets and holiday restrain fertilizer prices.
    Compiled by staff
    Published: Apr 2, 2013
    Fertilizer prices appear stabile on wholesale and retail markets. Holiday's tend to slow decisions and buyers had plenty of other reasons to step to the sidelines. In addition to an historic drop in corn prices triggered by Thursday's USDA reports, weather also got fieldwork off to a slow start in most areas.

    Ammonia softened again this week at both the Gulf and Black Sea price points. The Gulf index for April actually slipped a little more than expected, falling $25.40 to $541.50, while the Black Sea eased almost $7 to $474. Those costs translate into a fair value farmgate price around $790, with swaps for May $15 to $30 below that. Finding those prices in the heart of the Corn Belt won't be easy, though. USDA put the average price in Illinois at $886, while Iowa was at 879 last week. On the Plains $795 to $830 is a more common price, however.

    UAN prices stabilized this week at the Gulf, edging around $2.50 a ton higher to $337.50 for 32%. Swaps for May are down to $315, as demand from early fieldwork areas is offset by easing costs for other sources of nitrogen. Current prices put fair retail value at $417 for 28%, but retail prices are lower in most areas so far. USDA put the average in Illinois at $382 for 28% with Iowa at $395. Prices on the Plains were $375 to $420.

    Urea prices also remained restrained. Costs out of the Black Sea fell another $1.50 to $341 a ton, their lowest level of the year, while the Gulf came in at $402.50 down $1 and $30 off winter highs. A large lineup of imports this winter has the market well supplied, and there are questions about how much wheat growers on the Plains will want to apply with their crop in uncertain shape. Costs for May and June at the Gulf are $25 cheaper than the nearby, suggesting no rush so far to book replacement supplies. The current price in Illinois, just under $530 according to USDA,

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17.13+0.12(+0.71%)Aug 1 4:06 PMEDT

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