Central Florida: A high pressure system kept the northern portion of the eastern U.S. drier than normal, allowing harvest to continue uninterrupted in early October.
The Central Florida market price range last week was unchanged at a flat $410/st FOB. No new spot sales were found. MAP continued to bring a $20/st premium over DAP at Central Florida.
U.S. Gulf: Activity at terminals and warehouses was on the upswing last week, and prices for NOLA DAP barges firmed. Sources noted that there was no major resurgence in market activity, however, but rather just a slight improvement.
One of the victims of the federal government shutdown will be crop reports from the USDA, which will not release new updates until the situation is resolved. The one area that will continue to operate will be meat and poultry inspections, however, which were considered essential services.
On the Cargill futures market, prices for corn and soybeans were down compared to the previous week, while prices for wheat were mixed. Corn was $4.3925/bushel for December 2013, down from $4.57/bushel the previous reporting period, while corn for December 2014 fell to $4.8075/bushel from the previous week’s $4.9675/bushel.
The soybean price for November 2013 was $12.8825/bushel, down from $13.1725/bushel a week earlier. Beans for November 2014 were also lower, at $11.70/bushel from the prior week’s $11.7925/bushel.
Wheat for December 2013 improved to $7.555/bushel from the previous week’s $7.275/bushel. Wheat for July 2014 was $7.3125/bushel, while wheat for July 2015 slipped slightly to $7.1550/bushel, compared with $7.16/bushel one week earlier.
Water levels on the Mississippi River remained a problem last week, and Blytheville, Ark., was still having trouble loading and unloading. The heavier-than-normal rains that fell in the late spring and early summer gave way to shortages in July. There were also reports that lock work on the Ohio River could limit barge movement in the coming weeks.
Warehouse and terminal DAP prices remained flat to week, with MAP running approximately$20-$25/st higher than DAP. The price gap between the two will likely shrink with the arrival of fresh OCP product from Koch and Helm. Sources said product was being purchased on an as-needed basis, rather than in advance.
The NOLA DAP barge price range last week came in at $372-$380/st FOB based on confirmed trades at New Orleans at the time of the sale. That range was broader than the previous week’s $372-$373/st FOB NOLA range. Prices may firm during the next few weeks as the fall application season picks up steam.
MAP barge prices were reported at $392-$405/st FOB NOLA.
Eastern Cornbelt: The DAP market had reportedly fallen to $410-$430/st FOB in the Eastern Cornbelt, down $15/st from last report, with the low at Cincinnati and the upper end FOB East Liverpool. MAP pricing was also lower at $435/st FOB Cincinnati and $450/st FOB East Liverpool and inland terminals in Indiana.
The 10-34-0 market was tagged at $445-$470/st FOB in the region, with the upper end in the Ohio market. Indiana sources also quoted delivered 10-34-0 at the $455/st level last week.
Western Cornbelt: DAP was quoted at $415-$425/st FOB regional warehouses in the Western Cornbelt, with MAP $20-$25/st higher, depending on location.
10-34-0 remained at $410-$425/st FOB in the region.
California: Although postings remained at $560-$565/st FOB or DEL, sources quoted the true MAP market at $525-$540/st DEL in California, with the low for railed tons from the Midwest and the upper end from western producers.
16-20-0 was unchanged at $448-$455/st FOB and $448/st DEL in the state, while 0-45-0 with Avail remained at $520/st FOB.