U.S. Gulf/Tampa: Tampa business for June was done at $565/mt C&F, down $22/mt from May’s $587/mt.
Sources said they had been expecting a small drop, but not one as big as $22/mt. The lower number could represent buyer resolve in the wake of a struggling DAP market, what with the end of the U.S. domestic season looming and continued resistance by Indian buyers to price increases.
Eastern Cornbelt: Much warmer weather helped growers move quickly on corn and soybean planting, with progress now tracking ahead of average in Indiana and Ohio.
After two weeks of hectic planting activity, growers were able to seed fully 86-89 percent of the regional corn crop by May 26, equaling the five-year average in Illinois and moving ahead of normal in Ohio and Indiana. Soybean planting also jumped 20-30 percentage points from the previous week, with progress as of May 26 rated at 70 percent complete in Ohio, 60 percent in Indiana, and 40 percent in Illinois.
One Ohio source said several weeks of dry weather had left his trade area in need of rain. “Just give us a drink and we’ll be in good shape,” he said last week.
Sources continued to talk of softer pricing for ammonia last week. While dealer reference prices for anhydrous ammonia remained as high as $770/st FOB out of Ohio and Indiana terminals, Illinois sources quoted spot ammonia pricing in the low $700s/st FOB last week.
Western Cornbelt: Wet, stormy weather continued to limit fieldwork in parts of Iowa and Nebraska in late May.
Local reports said flash floods and wind damage were reported in northeastern Iowa last week, while multiple tornadoes were confirmed in south-central Nebraska at midweek, along with hail and nearly two inches of rainfall in some locations.
USDA reported that 96 percent of Nebraska’s corn crop was planted by May 26, compared with 83-85 percent in Missouri and Iowa. Progress in all three states continued to trail the five-year average, though the gap had closed considerably.
Soybean planting in the region, however, continued to trail well behind the average pace, with progress as of May 26 rated at 63 percent complete in Nebraska, 40 percent in Iowa, and just 30 percent in Missouri. Missouri’s cotton and rice growers were faring better, however, with planting progress estimated at 93-97 percent complete for those two crops.
With movement now focused on sidedress demand, sources reported little new business to test the ammonia market. Ammonia pricing was steady at $680-$720/st FOB in the region, with the low in Nebraska and the upper end of the range quoted in Missouri. Iowa sources tagged the dealer market commonly at the $700/st FOB mark last week.
California: Dry, windy weather in Southern California continued to raise concerns about wildfires. A fire near Santa Barbara was mostly contained by midweek after threatening homes in Los Padres National Forest on Memorial Day.
The dry weather has been a boon for spring crop planting in the state, however. The California cotton crop was 98 percent planted by May 26, while rice acres in the state had progressed to 95 percent planted by that date. Both crops were tracking slightly ahead of the five-year average.
Anhydrous ammonia was unchanged at $765-$770/st DEL in California, with aqua ammonia referenced at the $205/st FOB level.
Pacific Northwest: Wet weather was reported throughout much of the Pacific Northwest last week. One Washington source said his trade area received 3.5 inches during the last week of May alone.
The moisture was needed after a drier-than-normal winter. Some Montana sources said growers were already irrigating newly planted potatoes and spring grains before the late-May precipitation.
Spring plantin