Tidbits
World urea prices this past week were down ~4%, despite the Indian tender. Phosphate prices were mostly unchanged except Single Super Phosphate 20% (SSP) was a bit stronger. MOP prices were mostly steady to up ~3% at around $310 per mt CFR Brazil (delivered to the ports).
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Brazil’s farmers are waiting to decide what fertilizer and seeds to purchase for the new crop growing season. Weather and prices are out of whack.
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Our clients in the Southeast USA are saying cotton is going to take 10 to 20% of the corn acres this spring. Â Â
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The EPA reports that 732 million biodiesel blending credits were generated in February vs 675 million in January 2024. Ethanol blending credits were unchanged at 1.21 billion.