U.S. Gulf/Tampa:
Eastern Cornbelt: Illinois growers were able to peck away at corn and soybean planting despite experiencing the state’s 12th wettest May on record.
As of June 2, 91 percent of the state’s corn crop and 49 percent of the soybeans were seeded, both still trailing the five-year average. Planting progress was more advanced in Indiana and Ohio, with both corn and soybeans tracking ahead of the average pace for each state.
Sources continued to report pressure on ammonia as demand shifts to UAN for the sidedress run.
Ammonia pricing covered a very broad range in the region last week. In Illinois, spot quotes ranged from $655-$710/st FOB last week, with the low reported out of the East Dubuque market. At the upper end of the regional range, sources quoted the dealer market FOB Huntington, Ind., at the $755/st FOB mark.
Western Cornbelt: Heavy rain during the first days of June pushed several rivers in eastern Iowa to the flood stage last week, and also caused rapid rises in the Mississippi, Missouri, and Illinois Rivers.
With the exception of Nebraska, planting progress in the region had changed little from the previous week. Just 44 percent of Iowa’s soybean crop was seeded by June 2, well behind the five-year average of 91 percent. Soybean planting was also lagging in Missouri at just 36 percent complete last week, while Nebraska growers had fully 81 percent of the crop seeded by June 2.
Corn planting in the region was rated at 99 percent complete in Nebraska by June 2, compared with 86-88 percent in Missouri and Iowa. One western Iowa source estimated that growers in his trade area were 95 percent planted on corn and 50 percent on soybeans, “but it rains every day it seems.” He estimated that 3-5 percent of the corn crop may need to be replanted because of excess moisture and poor germination.
“Growers may be done planting corn for the year and may just take prevented planting,” he added, noting that fields with heavy soils were “ponding or very muddy” last week. “They will stay on soybeans for a couple more weeks but are asking to switch to lower yielding, shorter season varieties now,” he said. “The forecast is for wet weather for the foreseeable future.”
With demand over, ammonia pricing continued to slip in the region. Iowa and Nebraska sources pegged the terminal market in the $640-$680/st FOB range for prompt tons out of regional terminals last week, down some $40/st from last report.
Northern Plains: Wet, cool weather continued to limit field activities and spring planting in parts of Minnesota and North Dakota. South Dakota, by contrast, was closer to its five-year average for planting progress.
Ammonia prices in the Northern Plains were “slipping every day with the rain,” according to one regional contact. Delivered ammonia was quoted in the $740-$760/st range in North Dakota last week for cash tons, while spot pricing out of Minnesota terminals had reportedly fallen to $650-$670/st FOB.
Great Lakes: Sidedress activity was “just kicking into gear” in the Great Lakes region last week, according to one Wisconsin source. Growers were also trying to wrap up corn and soybean planting, but rainfall and wet field conditions continued to limit activity in some locations.
Sources reported some ammonia demand in the Michigan market in early June, but spot prices were falling. The dealer market out of Courtright, Ontario, and Huntington, Ind., was tagged at $755/st FOB last week, down $20/st from a week earlier. Wisconsin sources pegged the low end of the regional ammonia market at $705-$710/st FOB.
India: Mitsui booked a cargo of 12,000