WEEKLY FERTILIZER REVIEW: DAP Follows Ammonia Lower
Prices try to stabilize this week.
Bryce Knorr
Published: Dec 12, 2008
While prices for nitrogen are mostly in limbo on international markets, buyers continue to resist sellers when it comes to DAP. Prices dropped sharply in the latest week, and appear to be headed lower still if forward prices are any indication.
DAP prices continued to drop, as expected, because forward bids for winter were lower than the spot. Prices at the Gulf were quoted at $338.25 a ton. DAP for February at the Gulf is bid at $230 and offered at $255. Dealers with old inventory likely will be forced to market it down dramatically; Illinois dealers were still asking $795 to $1,145 according to USDA.
Ammonia, which fell dramatically last week, appeared to be trying to stabilize this week, with the price steady at $113 a short ton out of Tampa. Prices were not quoted out of the Black Sea, however, and forwards were stronger.
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