Central Florida: With the spring season over, movement remained at a crawl last week. Central Florida phosphate prices were lower, mirroring declining prices on the river system and for export. The cost of producing phosphate has gone down during the past month as both sulfur and ammonia have fallen.
Corn and soybeans are behind schedule due to late planting, and the harvest will likely be late this year. Just how late could impact fall applications of phosphate and other fertilizers.
A train hauling ethanol cars derailed at the Port of Tampa early July 25, closing the busy facility for several hours Thursday morning. The spill blocked the entrance to the port, but officials moved the security checkpoint to the exit and moved traffic from both directions through the same gate, so the port was able to reopen.
The price range for Central Florida DAP fell to $425-$435/st FOB last week, down from $435-$450/st FOB. Large customers were getting the best prices. PCS Sales was selling at market prices out of Aurora and White Springs.
MAP continued to bring a $20/st premium over DAP at Central Florida.
U.S. Gulf: The Southwestern Fertilizer Conference produced little in the way of new NOLA phosphate transactions.
Sources continued to report prompt NOLA DAP barges business as low as the $400/st FOB level, give or take. Sources said the reason for lower-priced NOLA deals during the past two weeks was to avoid having to pay demurrage fees on barges. Higher prices were also found, however.
USDA said 63 percent of the national corn crop was in good to excellent condition last week, with only 11 percent rated as poor to very poor. Only 43 percent of the crop was silking, however, compared with 84 percent at this time last year. Soybean conditions were similar, with 64 percent of the national crop in the top categories and only 8 percent in the bottom.
On the futures market, corn, soybean, and wheat prices all took a dive last week. Corn for September dropped to $4.96/bushel from $5.405/bushel the previous week, while corn for December 2013 fell to $4.7875/bushel from $5.00/bushel the previous week. Corn for December 2014 was posted at $5.1025/bushel last week, down from $5.22/bushel the previous week.
Soybeans for August were down to $13.5525/bushel last week, compared with $14.77/bushel a week earlier, while soybean prices for November 2013 moved to $12.24/bushel from the previous week’s $12.68/bushel. Soybeans for November 2014 were posted at $11.9725/bushel, down from $12.31/bushel a week earlier.
Wheat for September 2013 fell to $6.4925/bushel from the previous week’s $6.605/bushel, while wheat for July 2014 dropped to $6.745/bushel last week, down from $6.8675/bushel the previous week. Wheat for July 2015 dropped as well, to $6.9525/bushel from the previous week’s $7.2025/bushel.
The NOLA DAP barge price range last week was quoted in the $397-$410/st FOB range based on actual transactions, compared with $397-$405/st FOB the previous week. More barges were reportedly sold at the upper end of the range, however, suggesting possible signs of new life.
MAP barges were reported in the $435-$440/st FOB NOLA range, but there was minimal new business to test the market.
Eastern Cornbelt: DAP was quoted in the $450-$480/st FOB range in the region, with the low FOB Cincinnati and the upper end inland. MAP was generally $20/st higher than DAP, depending on location.
The 10-34-0 market was tagged at $430-$465/st FOB in the Eastern Cornbelt.
Western Cornbelt: DAP was steady in the $450-$475/st FOB range in the Western Cornbelt, with the higher numbers inland. Most river terminals were reported in the $450-$460/st FOB range in the region last week. MAP was $20/st higher than DAP.
10-34-0 remain