Anhydrous ammonia took a leadership role in fertilizer's overall recovery this week.
Updated fuels and fertilizer charts as of the week ended February 17, 2017.
State-to-state price action and market fundamentals have diesel and propane prices pointed in opposite directions.
Strength in corn futures outpaced gains in potash and phosphate this week, but, as with nitrogen, the fertilizer recovery has placed a floor under P&K prices for spring.
Anhydrous ammonia led the nitrogen segment higher this week as prices continue to favor the upside across the N segment.
Nutrient prices firmed again on the week as diesel backed-off.
Potash continued higher as an extension of recent upward price action. Phosphate firmed as well, but only slightly.
Farm diesel softened as crude oil and heating oil futures held basically steady. Meanwhile, LP firmed on aggressive state-to-state price action.
Urea has shot above the rest of the nitrogen segment, but once again, UAN28% has caught our eye as a potential indicator of upcoming price action.
Urea continued to lead the fertilizer segment to the upside, and bullish momentum is building for all of the nutrients we survey.