U.S. Gulf/Tampa: Sources said it was too early for anything new for Tampa for August. It is never too early to speculate, however, with sources predicting the market would remain under pressure due to soft global prices.
Eastern Cornbelt: Temperatures reached the 90s in parts of southern Illinois and Indiana last week, with heat index readings climbing into the triple digits. The heat and humidity fueled some powerful thunderstorms, particularly in northern Ohio and western/central Indiana.
Corn continued to benefit from the heat and rainfall, with good or excellent ratings assigned to 83 percent of Ohio’s crop, 81 percent of the acreage in Indiana, and 68 percent in Illinois. Soybean conditions were also good, with 73-75 percent of the regional crop rated as good or excellent last week.
Sources continued to quote the ammonia market at $620-$630/st FOB in Illinois, while pricing out of Indiana terminals was reported at the $685/st FOB mark for the last business.
Western Cornbelt: Sources reported typical July weather across the Western Cornbelt last week, with heat and humidity contributing to rapid crop growth.
A Nebraska source said crops looked great in his trade area, but corn fields were showing early signs of drought stress. “It’s just starting to curl a little, so crops could use a drink,” he said. Other sources noted that the wet spring has resulted in a wide variance in corn development, which will likely give the sidedress season longer legs this year.
Lower prices were reported for anhydrous ammonia in the region. Nebraska sources quoted the low end of the regional market at $510/st FOB for prompt take and $495/st FOB for fill tons shipped in August or September. The upper end of the regional range was pegged at $570/st FOB Palmyra, Mo., for fill tons.
Missouri sources also quoted fill ammonia in the $535-$540/st DEL range from southern production points, where the market was quoted as low as $465/st FOB after netbacks.
California: Anhydrous ammonia pricing was quoted at $765-$770/st DEL in California, with aqua ammonia referenced at the $205/st FOB level.
Effective July 1, Agrium’s anhydrous ammonia postings moved to $765/st truck-DEL in Central California and $770/st truck-DEL in Northern California, down $35/st from the company’s previous postings on Feb. 5. Agrium also reposted aqua ammonia in California on July 1 at $205/st FOB, down $9/st from the Feb. 5 reference level.
Despite the typical July combination of dry conditions and sweltering heat in parts of the state, USDA on July 8 assigned good or excellent ratings to 85 percent of California’s cotton crop and fully 95 percent of the state’s rice acreage.
Pacific Northwest: Effective July 1, Agrium reposted anhydrous ammonia at $640/st rail-DEL in Washington, Oregon, and northern Idaho; $660/st truck-DEL in northern Idaho and in Washington and Oregon east of the Cascades; $665/st rail-DEL in southern Idaho and Utah; and $690/st truck-DEL in Montana and northern Wyoming.
Also effective July 1, Agrium’s aqua ammonia postings in Washington moved to $165/st FOB Kennewick and Central Ferry.
Western Canada: With spring demand now over in Western Canada, sources reported a new slate of lower fill prices for nitrogen products in early July.
The anhydrous ammonia market was quoted at $672-$686/mt DEL in Manitoba, $686-$695/mt DEL in Saskatchewan, and $695-$722/mt DEL in Alberta and British Columbia. Those levels were down some $270/mt from spring pricing levels in the region.
Generally warm and dry weather conditions across Western Canada helped crops advance rapidly in early July, though some locations experienced severe thunderstor