U.S. Gulf/Tampa: The markets remained quiet last week, with Tampa continuing to be called $690-$710/mt DEL and NOLA $655/st FOB.
Eastern Cornbelt: Anhydrous ammonia pricing had firmed to $740-$760/st FOB regional terminals, with the common price in Illinois quoted at the $750/st FOB level. CF’s ammonia prices for the July 14-20 shipping period included $740/st FOB Mt. Vernon, Ind.; $750/st FOB Illinois terminals at Albany, Kingston Mines, Peru, and Seneca; $755/st FOB Cowden, Ill., and Terra Haute, Ind.; and $760/st FOB Huntington, Ind., and Courtright, Ontario.
Sources were speculating about fall ammonia demand in the region, saying persistent drought will limit fall applications and put pressure on ammonia, urea, and UAN for spring 2013. One source also said fall applications of phosphate and potash will “take a hit” in drought areas.
Drought conditions in Indiana ranged from severe to extreme last week, according to the July 17 U.S. Drought Monitor, with Ohio under moderate to severe drought. Nearly all of Illinois was experiencing severe drought at mid-month, although drought conditions in southern Illinois were labeled as extreme at mid-month.
Corn quality plunged last week, with only 8-11 percent of the acreage in Indiana and Illinois rated as good or excellent, compared with 19 percent in Ohio. Poor or very poor ratings were assigned to fully 71 percent of Indiana’s corn crop last week, compared with 56 percent in Illinois and 47 percent in Ohio.
Similar conditions were reported for soybeans. Only 11 percent of Indiana’s crop was rated as good or excellent, along with 17 percent of the acreage in Illinois and 22 percent in Ohio. Poor or very poor ratings were given to 57 percent of Indiana’s soybeans at mid-month, compared with 41-42 percent in Illinois and Ohio.
Western Cornbelt: Sources reported higher prices for ammonia, but little in the way of new business to test the market. More hot, dry weather settled over the Western Cornbelt in mid-July, and crop conditions continued to deteriorate as a result.
CF’s ammonia postings for the July 14-20 shipping period moved to $720/st FOB Blair and Greenwood, Neb.; $725/st FOB Whiting, Iowa; $730/st FOB Port Neal, Iowa; $740/st FOB Garner, Iowa; and $745/st FOB Spencer, Iowa, and Palmyra, Mo. In the Northern Plains, CF’s ammonia postings included $750/st FOB Mankato, Minn., and $760/st FOB Glenwood, Minn., Grand Forks, N.D., and Velva, N.D.
Effective July 13, Agrium’s ammonia postings in the Leal/Beulah sales area in North Dakota moved to $780/st FOB and $800/st DEL. Agrium’s July 1 ammonia postings included $740-$745/st FOB Nebraska terminals and $750/st FOB Iowa terminals.
As of July 17, the U.S. Drought Monitor said drought conditions in central and southwestern Nebraska had transitioned to extreme, with most of the rest of the state experiencing severe drought. Nearly all of Missouri was in severe or extreme drought last week, with the worst conditions reported in southeastern and central areas of the state. USDA has approved a disaster declaration for all of Missouri’s 114 counties, Missouri Gov. Jay Nixon reported on July 17. In Iowa, the eastern half of the state was experiencing severe drought at mid-month.
As of July 15, USDA said corn rated as good or excellent had fallen to just 7 percent of the acreage in Missouri, compared with 36-43 percent in Iowa and Nebraska. Corn rated as poor or very poor had expanded to cover fully 72 percent of Missouri’s crop, compared with 27 percent of the acreage in Iowa and Nebraska.
As for soybeans, just 10 percent of Missouri’s crop was rated as good or excellent last week, with 59 percent in the poor or very poor categories. In Iowa and Nebraska, 34-38 percent of th