U.S. Gulf/Tampa: Recent business in Yuzhnyy had some questioning if Tampa prices in June might tick up, though others continue to maintain they are on their way down.
Eastern Cornbelt: Powerful thunderstorms pounded parts of Indiana early in the week, but growers in much of the region were able to knock in a lot of corn and soybeans after a week of brisk planting activity at mid-month.
As of May 19, corn planting had vaulted to 74 percent complete in Illinois and Ohio, up dramatically from the previous week’s estimates of 17 percent and 46 percent, respectively. Indiana growers had 64 percent of the corn planted by May 19, up from 30 percent the previous week and within 1 percentage point of the five-year average for that date.
Soybean planting had also surged ahead, with 45 percent of the crop seeded in Ohio, 30 percent in Indiana, and 19 percent in Illinois. As with corn, those percentages were up significantly from the previous week, with Ohio’s progress now more than 10 points ahead of the five-year average.
With demand ebbing quickly in favor of UAN or urea, sources tagged the spot ammonia market in the $730-$750/st FOB range in the region last week.
Western Cornbelt: Midwest contacts have said all spring that once growers were able to get in the field, corn planting would happen at a blistering pace.
Although delayed significantly, that rapid planting pace finally happened in mid-May. USDA reported that fully 70-71 percent of the corn crop in Iowa and Missouri was planted by May 19, still trailing the five-year average for both states, but up dramatically from the previous week’s 15 percent in Iowa and 28 percent in Missouri.
Meanwhile, Nebraska growers had 84 percent of the corn planted by May 19, a jump of more than 40 percentage points from the previous week. Soybean planting was also off to a good start, with progress rated at 33 percent complete in Nebraska, 16 percent in Iowa, and 13 percent in Missouri. Those figures compared with just 1-7 percent complete the previous week.
Sources continued to talk of anhydrous ammonia volumes “taking a hit” as growers switch to UAN and urea for sidedress. The spot ammonia market remained at $680-$685/st FOB Nebraska terminals, $700-$720/st FOB in Iowa, and up to $725/st FOB Palmyra, Mo.
Southern Plains: Parts of the Southern Plains region endured three consecutive days of powerful tornado activity last week, ending with the deadly EF5 tornado that ripped through Moore, Okla., on May 20.
In areas of the region that weren’t battered by tornadoes, high winds, and rainfall, sources reported steady fieldwork last week. A central Kansas source said temperatures in the 70s and well-timed rains have pushed newly planted corn to the three-leaf stage in his trade area,
Corn planting in Kansas and Colorado was roughly 20 percentage points behind the five-year average, with progress as of May 19 estimated at 59 percent complete in Colorado, 71 percent in Kansas, and 84 percent in Texas. The Kansas soybean crop, at 14 percent planted by that date, was also 21 points behind the average pace.
Significant planting delays were also reported for cotton and sorghum in much of the region, with progress on the latter ranging from just 3 percent complete in New Mexico to 74 percent in Texas.
Anhydrous ammonia was described as a “moving target,” with spot pricing in the $640-$650/st FOB range out of regional production points and $660-$670/st FOB Kansas pipeline terminals.
Sources said Agrium’s Borger, Texas, plant was down last week but hoping to restart soon.
South Central: Most of the South Central region was far too wet for fieldwork last week.
The heavy rain produced another rise