Fertilizers are lower again in this week's price survey as diesel held steady and propane firmed a penny.
Updated fuels and fertilizer charts as of the week ended September 23, 2016.
Seasonal price patterns suggest mild demand-based price strength for diesel and propane near-term.
DAP, MAP and potash are lower on the week. World demand may be on the rise which could bring more production online and support higher supplies and lower prices through winter.
Our nitrogen margins are very thin suggesting prices will continue to fall near-term.
As early harvest begins, fertilizer prices continue to soften and we feel no urgency to book for fall applications at this time.
Phosphate prices were mixed this week as potash declined again. Whether farmers choose to apply in the fall or spring, replacing removed P&K will be key to next year's yield.
This week's farm diesel and propane price action has exhausted our appetite for risk on harvest fuels.
Urea was the only nitrogen product we survey that posts a higher price this week as the rest of the segment fell moderately.
The United States Energy Information Administration released its September Short-term Energy Report which raised U.S. crude oil production forecasts and lowered gasoline price projections.