Central Florida: Sources reported little activity during the holiday week, with DAP prices generally quoted a few dollars on either side of $430/st FOB. Mosaic’s posted DAP rates were $425/st FOB, with MAP listed $20/st FOB higher. Truck-loaded DAP was $435/st FOB.
Though warmer temperatures melted the previous week’s snowpack in several regions served by the Central Florida market, the moisture left fields muddy and impossible to harvest. Heat or cold was now needed, one market observer said, to either dry out the ground or freeze it so the harvest could conclude.
DAP prices on the Central Florida market were quoted in a range of $425-$435/st FOB, unmoved from the week before. The MAP premium was stable at $20/st FOB above DAP.
U.S. Gulf: Barge activity was minimal for the short week, and prices remained stable at $405-$415/st FOB. The bulk of nearby transactions came around $408-$410/st FOB, but buyers were showing renewed willingness to bid up to $415/st FOB.
The market experienced a “return of buying,” one source said, for the nearby market as well as December and first-quarter deliveries. December DAP was called $415/st FOB.
Demand for MAP was diminished compared to recent weeks, and traders pegged it at a $20-$25/st FOB premium over DAP.
Weather conditions continued to make many fields muddy and unworkable. “I don’t think there’s going to be much getting done this week,” said one source. USDA agreed, describing field conditions as “treacherous or impassable” in some areas.
Some market contacts speculated that the fall season was over in the northern states. Farmers would continue to clear fields wherever possible, said one source, though “much remaining fall tillage will be left unfinished.”
Faced with rising freight rates and steep competition for storage, some farmers had reportedly delayed harvesting their fields prior to the recent precipitation, allowing the corn extra time to dry on the stalks, one source said. The strategy carried the risk of fields succumbing to adverse weather conditions prior to picking, a reality some are currently realizing.
Some looked to the positives of the situation, namely that an early winter would likely lead to a reduced overall crop. Fewer bushels harvested would likely push up futures prices, one source reasoned, potentially lessening some end-user reluctance toward large late-season fertilizer purchases.
Prices on the NOLA barge market were quoted in a range of $405-$415/st FOB, unchanged from the previous week. MAP was called $430-$435/st FOB.
Eastern Cornbelt: DAP remained at $460-$475/st FOB regional warehouses in the Eastern Cornbelt, depending on location, with MAP quoted in the $480-$495/st FOB range. The low numbers in both ranges were quoted FOB Cincinnati.
10-34-0 was unchanged at $520/st FOB for limited tons in the region.
Western Cornbelt: DAP was tagged at $455-$465/st FOB most terminals in the Western Cornbelt, with the lower numbers reported in the Missouri market on spot basis. MAP was quoted at $485-$490/st FOB in the region.
10-34-0 was steady at $515-$520/st FOB in the region for any available tons.
Southern Plains: The Tulsa DAP market was pegged at $450-$460/st FOB, with MAP reported in the $475-$480/st FOB range at the port. Most sources quoted the lower end of both ranges as the more common trading level last week.
Sources quoted the Houston market at $465/st FOB for DAP and $485/st FOB for MAP.
10-34-0 was reported at $510-$520/st FOB for any available tons in the Southern Plains, with the low FOB Altus, Okla.
South Central: DAP pricing was quoted at $460-$470/st FOB terminals in the Sout