Gleadell Fertiliser Report
The US market is suddenly flying and prices have traded almost $30/tonne higher in a week…
- The short window of opportunity, seen recently as Urea prices traded sideways and then downwards, is now closed as prices have rebounded in all areas.
- The US market is suddenly flying and prices have traded almost $30/tonne higher in a week. Traders and buyers now appear convinced the market will go firmer following the positive USDA corn report on October 8th.
- More tenders in India and Bangladesh are still to happen late October/early November helping further to push prices upwards.
- Ammonium Nitrate in Europe remains extremely tight, and in the UK both GrowHow and Yara keeps moving prices up and keeping merchants on a very tight rein on allocations.
- Lithuanian product, the preferred imported nitrogen product of many UK farmers, has also firmed.
- News from the US this week that they may increase the percentage of ethanol used in gasoline from 10% to 15% will raise the demand for corn, which is a crop hungry for both Nitrogen and Phosphate.
- DAP/MAP demand in the US is growing and supply is tight, so a Phosphate market which, at one stage, appeared to be faltering has once again been fuelled and is now unlikely to turn around in 2010.
- Potash, not wanting to be left on the sidelines, has started to follow other fertiliser prices upwards and the 12/tonne price rise in Europe is now starting to be mirrored in the UK.
For further information contact Calum Findlay, fertiliser trader on 01427 421244 calum.findlay@gleadell.co.uk
1) Prices quoted are indicative only at the time of going to press and subject to location and quality.
2) Gleadell Agriculture cannot accept liability arising from errors or omissions in this publication.
3) mln/t = million tonnes, mt = metric tonnes, kg/hl = kilogram per hectolitre, k/mt = thousand tonnes.