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: The anhydrous ammonia market was steady at $700-$735/st FOB in the region.
The intense heat of late June and early July had eased somewhat in the region, but the Eastern Cornbelt was in the throes of a rapidly worsening drought at mid-month. “It seems as though, for the most part, everybody needs rain, and growers are being very cautious on future decisions,” said one source.
USDA reported that 60-77 percent of the corn acres in Indiana and Illinois were silking by July 8, along with 41 percent of the corn crop in Ohio. Crop development was well ahead of the five-year average, but crop quality was falling quickly in the region. Only 28 percent of Ohio’s corn was rated as good or excellent last week, and it was the garden spot of the region. Good or excellent ratings were assigned to only 19 percent of the corn acres in Illinois and 12 percent in Indiana.
Corn in the poor or very poor categories, however, totaled fully 61 percent of Indiana’s crop, compared with 41-48 percent in Ohio and Illinois.
As for soybeans, 36-44 percent of the regional crop was blooming by July 8, with good or excellent ratings assigned to 27 percent of the crop in Ohio, 20 percent in Illinois, and 14 percent in Indiana. Soybeans rated as poor or very poor totaled 51 percent of the crop in Indiana, 42 percent in Illinois, and 36 percent in Ohio.
Western Cornbelt: The anhydrous ammonia market was quoted at $650-$700/st FOB, with delivered tons pegged at $680-$690/st in central Missouri. Effective July 1, Agrium’s anhydrous ammonia postings moved up to $750/st FOB Iowa terminals at Garner, Early, and Whiting; $745/st FOB Greenwood, Neb.; $740/st FOB Hoag, Neb.; $735/st FOB Clay Center, Kan.; $730/st FOB Conway, Kan.; $725/st FOB Mocane, Okla.; and $685/st FOB Borger, Texas.
Heat and drought continued to take a toll on the region’s corn and soybean crops, and drought conditions were expanding in the Western Cornbelt. Crop conditions were rapidly deteriorating as the corn enters pollination.
Fully 75 percent of the Missouri corn crop was silking by July 8, compared with 48-50 percent in Iowa and Nebraska. Just 12 percent of Missouri’s corn was rated as good or excellent last week, with fully 60 percent of the acreage in the poor or very poor categories. In Iowa and Nebraska, 46-47 percent of the corn was rated as good or excellent last week, down 9-16 percentage points from the previous week.
Soybean conditions were similar in the region, with good or excellent ratings assigned to 48 percent of Iowa’s crop, 41 percent in Nebraska, and just 13 percent in Missouri. USDA placed 54 percent of Missouri’s soybean crop in the poor or very poor categories last week. As for cotton, only 17 percent of Missouri’s crop was rated as good or excellent, with 42 percent labeled as poor or very poor. Missouri’s rice crop was 4 percent headed by July 8, with 72 percent of the acreage rated as good or excellent.
Northern Plains: The anhydrous ammonia market had reportedly firmed to $675-$720/st FOB Minnesota terminals, with delivered ammonia fill tons quoted at $715-$750/st in the North Dakota market, depending on supplier. Fill tons FOB Murdock, N.D., were quoted at the $730/t FOB level in early July.
Effective July 1, Agrium’s anhydrous ammonia posting FOB Mankato, Minn., moved to $750/st.
Dry weather settled over the Northern Plains in early July, just as corn crops in the region were tasseling and beginning pollination. Crop conditions remained favorable in the region last week, however, in spite of the dry conditions.