U.S. Gulf/Tampa: The markets remained quiet last week. NYMEX natural gas continued to move down, however, closing at $3.297/mmBtu on Aug. 8, versus the prior week’s $3.387/mmBtu.
Eastern Cornbelt: Strong storms hit parts of northern Ohio at midweek, producing locally heavy rains, hail, damaging winds, and at least one tornado. Spotty rainfall was also reported in parts of Indiana last week.
Sources continued to report very favorable crop conditions in the region, thanks to ample moisture and generally cooler-than-normal summer temperatures. “We need a bit more heat to finish things up, but we’re looking at an extremely good corn crop,” said one Ohio contact.
Sources reported no change to the regional ammonia market last week. Ammonia prices in Illinois remained at $540-$570/st FOB for prompt or fill tons, depending on location, with the Indiana ammonia market $10/st higher.
Western Cornbelt: Heavy rains early in the week were reported in parts of Nebraska, but by far the strongest storm activity was reported in Missouri.
Torrential rains during the first half of the week caused extensive flooding along central Missouri’s Gasconade River. The rainfall caused the river to rise 32 feet in some locations, resulting in power outages and closures to parts of Interstate 44, and prompting an emergency declaration and evacuation order from Gov. Jay Nixon. Thunderstorms also swept through southern Missouri, dumping 10 inches overnight on Aug. 7 in some locations.
A patch of exceptional drought that had lingered in central Nebraska was mostly erased by early August, although areas of severe to extreme drought persisted in the western half of the state. Abnormally dry to moderate drought conditions were reported in northern Missouri, and in central and western Iowa last week.
Sources continued to report the anhydrous ammonia fill market at $510-$525/st FOB in Nebraska, $525-$540/st FOB in Iowa, and up to $550/st FOB in the Missouri market. One Iowa contact quoted the market last week at $530/st FOB for fill tons and $560/st FOB for prepay.
Northern Plains: Severe thunderstorms pounded Minnesota on Aug. 6, with reports of large hail, damaging winds, and heavy rains in some locations. Three-inch hail was reported near New London in south-central Minnesota.
Sources reported extensive crop damage in the areas affected by the storm. Region-wide, however, crop conditions remained good overall, though crop development continued to lag behind the average pace. Growers were harvesting oats and barley in the region last week, and the spring wheat harvest was close.
The anhydrous ammonia market remained in the low $500s/st FOB Minnesota terminals for fill tons. In North Dakota, delivered ammonia was pegged at $570-$590/st, with the low for fill tons and the upper end for limited prepay offers.
Eastern Canada: Generally favorable crop conditions were reported in Eastern Canada in early August, although Ontario sources noted some cases of weather-related yield losses expected in corn fields.
Mid-July storms caused some spotty crop damage in eastern Ontario and Quebec, and another round of powerful storms was expected in parts of southern Ontario late last week.
Sources reported little in the way of fertilizer movement in the region in early August.
Anhydrous ammonia pricing had fallen to $635-$645/mt FOB Courtright, Ont., for August shipments, down roughly $165/mt from late June pricing levels, and some $215/mt lower than spring ammonia pricing.
California: Effective Aug. 1, Agrium’s anhydrous ammonia postings dropped to $695/st truck-DEL in Central California, and $705/st truck-DEL in Northern California. Those prices reflect a $65-$70/st