As expected, both CF & Yara withdrew terms at the start of last week, once terms were re-published UK manufactured A.N moved up another £ 12 per tonne for February delivery. Since Christmas, the increase has been £ 46/t. Whilst prices over £ 270/t are not unprecedented, it is hard to think of a time when prices have moved up nearly £ 50 per tonne in one month. Have we reached the top, we cannot be certain? There is still more potential upside, with global Nitrogen markets still firming. Weather may impact on overall spring demand to come, but it probably will not be enough to impact on the price.
Urea markets continue their form of the last few weeks, with Egyptian Granular Urea hitting a seven year high at $ 375 FOB and rising. The amazing thing about this price rally since the turn of the year is that is has happened without any influence of Indian tenders. India is still expected to publish a tender sometime in early February, which will keep the fires stoked.
What a difference a year makes, high stocks and low demand produced the lowest prices in years. Today stocks have been emptied and demand is high, prices have moved up £ 25/t since early January. New cargo replacement cost values TSP at just over £ 300/t and DAP £ 420/t.
NRM Carbon Check
Berkshire based NRM Laboratories has launched a new Carbon check service for farmers. The UK government is committed to reducing carbon emissions and the aim to be net zero by 2050. Agriculture can be part of the solution with land acting as a carbon sink, soils can hold three times more carbon than the atmosphere. Farmers may be required in the future to understand the carbon holding capacity of their fields. The NRM Carbon Check service includes a full range of soil tests, organic matter, C:N ratio, total Nitrogen, total carbon, inorganic carbon, carbonate classification and bulk density. A comprehensive report is provided, which is straightforward to interpret. For details go to:
Spring Arable Nutrition Webinar
As we move into February, spring re-growth is hopefully not too far away. The key questions are how soil nitrogen status and plant populations impact on this growth potential. The latest Yara webinar on Tuesday 2nd February will aim to cover this and other important topics for wheat and other winter crops. To register click below.
Economic Data as at close on Friday 29th January v (22nd January 2021) £ = $ 1.3714 ($1.3684) £ = € 1.1299 (€ 1.1242) Crude Oil = $ 55.18 ($ 55.07) Natural Gas =$ 2.76 ($2.45) Please treat pricing on graphs as a guide, please use quote request form for an up-to-date price.