Fertilizer market starts to crack India nabs lower prices in latest urea tender By Bryce Knorr, grain market analyst
|
|
- Ophelia Garrison
- 5 years ago
- Views:
Transcription
1 Fertilizer market starts to crack India nabs lower prices in latest urea tender By Bryce Knorr, grain market analyst When India talks in the fertilizer market, the world listens. The large importer of urea and other products stoked the fall rally that took prices to three-year highs. But prices could be headed in the other direction following news today of lower prices and plentiful offers from suppliers in India s latest big purchase. Ammonia costs showed signs of weakness last week even before the India news broke, though a pullback in some wholesale markets seemed more about the specifics of weather than anything else. Prices at terminals on the Plains pulled by $5, as wet conditions, including snow, delayed the fall harvest and winter wheat seeding. Corn harvest is lagging behind average levels by double digits in the Dakotas, further dampening demand, with wet weather looming in the 8- to 14-day forecast across much of the U.S. Retail prices on average edged about a quarter lower to $497.25, but still look about $25 to $30 lower than replacement costs for any dealers still trying to move product into position. Urea swaps at the Gulf for December dropped $10 Tuesday ahead of the India tender results, which brought prices around $20 below the country s last big purchase in early October. That was the deal that appears to have topped out the market, coming in nearly $60 above the previous purchase in August that got prices moving again. International prices had been trying to rebound when news of the tender broke last month, but that upward momentum is over for now. While retail offers were little changed last week, keeping our average at, river terminals were already pulling back due to a combination of lower costs at the Gulf and the slow application season. Our projected replacement cost for winter make the current retail market look fairly priced, so much will depend on how much the international market retreats into winter. Lack of fall business could lead to a scramble, especially if winter affects movement of product. UAN has looked cheap all fall, at least at retail price points where few dealers updated offer sheets. That changed last week. Though not a lot of product is moving, some dealers raised offers on 28% by nearly $30 reflecting supplies that are somewhat limited right now by lack of manufacturer selling. Overall the average retail cost for 28% went up nearly $5.50, though at $246 it still looks undervalued, with $280 to more in line with replacement costs. UAN swaps eased a little yesterday on the downturn in urea, however. Phosphate costs continue to be impacted by the fluctuations in the cost of the nitrogen component of products, making the path of least resistance lower. The index for swaps at the Gulf dropped $3.50 last week to around $412.50, talking the projected replace cost to around $513 at the retail level, in line with our average price from dealers of $516. Prices could be headed lower due to bad weather for applications and expectations imports will rise. Potash held steady last week, keeping Midwest terminals at $319 and the Gulf at $291. Retail prices showed little change, keeping our average around $368, which still looks as much as $40 too cheap based on replacement costs. For more information about national and international fertilizer markets, go to Fertecon.com.
2 Iowa Fertilizer Prices $850 $750 per ton $650 $550 $450 $350 Jan 11 Jan 13 Jan 15 Jan 17 Source: USDA Ammonia Urea MAP Potash $1,200 Illinois Fertilizer Prices Ammonia DAP Potash Urea $1,000 per ton $800 $600 Sep 08 Sep 10 Sep 12 Sep 14 Sep 16 Sep 18 Source: USDA
3 per short ton $900 $800 $700 $600 $500 $100 Ammonia vs Corn Gulf Ammonia Nearby Corn $ $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 per bushel AMMONIA IMPORTS/EXPORTS metric tons 600, ,000 Exports Imports 400, , , ,000 0 F-16 S-16 O-16 N-16 D-16 F-17 S-17 O-17 N-17 D-17 F-18 S-18
4 $750 $650 $550 $450 $350 $150 Ammonia Retail Gulf per ton $900 $800 $700 $600 $500 $100 $- Farmgate Ammonia April price Source: USDA, Farm Futures NOTE: Fair Values are projections of what current farmgate cost of product should be, based on international wholesale price points.
5 $550 $500 $450 $350 $150 Urea Retail Gulf $700 Farmgate Urea April price $600 $ per ton $100 $- Source: USDA, Farm Futures NOTE: Fair Values are projections of what current farmgate cost of product should be, based on international wholesale price points.
6 per metric ton Black Sea Urea Ave. $350 $330 $310 $290 $270 $230 $210 $190 $170 $150 Jan Mar May Jul Sep Nov Average UREA IMPORTS/EXPORTS metric tons 1,400,000 1,200,000 1,000, , , , ,000 Exports Imports 0 F-16 S-16 O-16 N-16 D-16 F-17 S-17 O-17 N-17 D-17 F-18 S-18
7 $290 $280 $270 $260 $240 $230 $220 Gulf Urea Swaps Curve 1 Jan 1 Mar 1 May 1 Jul 1 Sep 1 Nov
8 UAN $365 Retail 28% Gulf 32% $315 $265 $215 $165 $115 per ton $450 $350 $150 $100 $50 $- Farmgate UAN 28% April price Source: Farm Futures NOTE: Fair Values are projections of what current farmgate cost of product should be, based on international wholesale price points.
9 $225 Gulf UAN (32%) Swaps Curve $220 $215 $210 $205 OV Dec 19 Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun $280 $260 $240 $220 $180 $160 $140 $120 UAN Gulf Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
10 metric tons 450, , , , , , , ,000 50,000 0 UAN IMPORTS/EXPORTS Exports Imports F-16 S-16 O-16 N-16 D-16 F-17 S-17 O-17 N-17 D-17 F-18 S-18
11 $550 $500 $450 $350 Retail DAP Gulf $900 Farmgate DAP April price $800 $700 per ton $600 $ $100 $- Source: USDA, Farm Futures NOTE: Fair Values are projections of what current farmgate cost of product should be, based on international wholesale price points.
12 Gulf DAP Swaps Curve $440 $435 $430 $425 $420 $415 $410 $405 $ Nov 18 Dec Tampa DAP metric ton $460 $440 $420 $380 $360 $340 $ Ave
13 Potash $560 $510 $460 $410 $360 $310 $260 $210 Retail Midwest Terminal Farmgate Potash April price $900 $800 $700 $600 per ton $ $100 $- Source: USDA, Farm Futures NOTE: Fair Values are projections of what current farmgate cost of product should be, based on international wholesale price points.
14 Midwest Potash $/st $350 Average Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec POTASH IMPORTS/EXPORTS metric tons 1,600,000 1,400,000 1,200,000 1,000, , , , ,000 Exports Imports 0 F-16 S-16 O-16 N-16 D-16 F-17 S-17 O-17 N-17 D-17 F-18 S-18
Fall fertilizer costs pinch budgets Three-year high in urea leads market gains By Bryce Knorr, grain market analyst
Fall fertilizer costs pinch budgets Three-year high in urea leads market gains By Bryce Knorr, grain market analyst Fertilizer costs start September at their highest levels in a couple years, putting further
More informationWinter fertilizer bargains could be rare Global market shows signs of stability By Bryce Knorr, grain market analyst
Winter fertilizer bargains could be rare Global market shows signs of stability By Bryce Knorr, grain market analyst While fertilizer costs continued to edge mostly higher this week, the strong summer
More informationUnsettled fertilizer markets firm Phosphates and potash make noise in wake of nitrogen rally By Bryce Knorr, grain market analyst
Unsettled fertilizer markets firm Phosphates and potash make noise in wake of nitrogen rally By Bryce Knorr, grain market analyst I ve been pushing growers to lock in fertilizer costs if they can find
More informationUrea makes new push higher Supply problems crop up just as demand for fertilizer rises By Bryce Knorr, grain market analyst
Urea makes new push higher Supply problems crop up just as demand for fertilizer rises By Bryce Knorr, grain market analyst What passes for calm in the fertilizer market never seems to last long. Just
More informationWeather targets fertilizer market too Heavy rains stall shipments, delay fall applications By Bryce Knorr, grain market analyst
Weather targets fertilizer market too Heavy rains stall shipments, delay fall applications By Bryce Knorr, grain market analyst The Midwest is finally starting to dry out from heavy rains in the first
More informationIndia urea tender doesn t rattle U.S. market much Ammonia Urea UAN Phosphates Potash
India urea tender doesn t rattle U.S. market much Retail fertilizer prices continue to have firm tone despite slow start to spring By Bryce Knorr, grain market analyst India stepped in to buy more urea
More informationIt s time to book 2018 fertilizer Focus on nitrogen first, using right tool for each market By Bryce Knorr, grain market analyst
It s time to book 2018 fertilizer Focus on nitrogen first, using right tool for each market By Bryce Knorr, grain market analyst A slump in nitrogen costs this summer gives growers a chance to lock in
More informationRetailers slash ammonia prices but urea shoots higher Weekly Fertilizer Review for February 22, 2016
Retailers slash ammonia prices but urea shoots higher Weekly Fertilizer Review for February 22, 216 A fairly quiet start to retail fertilizer trade in 216 came to very abrupt halt this week, with big changes
More informationSoybeans face make or break moment Futures need a two-fer to avoid losses By Bryce Knorr, senior grain market analyst
Soybeans face make or break moment Futures need a two-fer to avoid losses By Bryce Knorr, senior grain market analyst A year ago USDA shocked the market by cutting its forecast of soybean production, helping
More informationSoybeans face long road End to tariffs wouldn t help 2018 exports much By Bryce Knorr, senior grain market analyst
Soybeans face long road End to tariffs wouldn t help 2018 exports much By Bryce Knorr, senior grain market analyst Forecasting grain prices is relatively easy in normal times. Most models assume the future
More informationWheat market may take patience Exports, seasonal weakness weigh on prices for now. By Bryce Knorr, Senior Grain Market Analyst
Wheat market may take patience Exports, seasonal weakness weigh on prices for now By Bryce Knorr, Senior Grain Market Analyst The best days of the wheat rally may still be ahead. But first the market may
More informationYara International ASA First Quarter results 2013
Yara International ASA First Quarter results 213 22 April 213 1 Summary first quarter Strong results with stable margins Strong cash flow Fertilizer deliveries close to last year despite late spring Record
More informationKansas State University Department Of Agricultural Economics Extension Publication 08/30/2017
Margin Protection Crop Insurance Coverage Comes to Kansas Monte Vandeveer (montev@ksu.edu) Kansas State University Department of Agricultural Economics August 2017 A new form of crop insurance coverage
More informationFall 2017 Crop Outlook Webinar
Fall 2017 Crop Outlook Webinar Chris Hurt, Professor & Extension Ag. Economist James Mintert, Professor & Director, Center for Commercial Agriculture Fall 2017 Crop Outlook Webinar October 13, 2017 50%
More informationYara International ASA Third Quarter results 2013
Yara International ASA Third Quarter results 213 18 October 213 IR-Date: 213-1-18 1 Summary third quarter Strong results despite weaker commodity fertilizer markets 17% increase in deliveries including
More informationYara International ASA. 21 October 2011
Yara International ASA Third quarter results 211 21 October 211 1 Summary third quarter Strong results driven by improved margins Strong demand outside Europe, satisfactory sales in Europe Sluiskil urea
More informationFERTILIZERS PRICE TRENDS AND FFBL 3 Q 2011 REVIEW. Presented by: Syed Aamir Ahsan CFO & GMF Nov 03, 2011
FERTILIZERS PRICE TRENDS AND FFBL 3 Q 2011 REVIEW Presented by: Syed Aamir Ahsan CFO & GMF Nov 03, 2011 SEQUENCE International Price Trends Industry and FFBL Performance PMP Operations Wind Power Projects
More informationBUSINESS AND MARKETING TOOLS FOR PROFITABLE FARMING. Summer Crossroads: Volatility and Opportunity. Bryce Knorr Farm Futures Magazine
Summer Crossroads: Volatility and Opportunity Bryce Knorr Farm Futures Magazine Don t Bury The Lead Why were soybeans up more than 50 cents despite higher acres? 2014 crop likely smaller Acreage up in
More information9M 2016 IFRS Results
9M 216 IFRS Results 1. Market context Market context The average price of DAP (FOB Tampa) in 3Q 216 was USD 339 per tonne, representing a 27% decrease year-on-year. For 9M 216 the average DAP price (FOB
More informationAnalyst Briefing 1H Business Results. Security Analyst Briefing 1H 2015
Analyst Briefing Business Results UREA MARKET ENVIRONMENT Domestic urea production rose by 7% vs 1H 2014; led by better capacity utilization Overall urea sales rose sharply by 12% attributed to the following
More informationPRF Insurance: background
Rainfall Index and Margin Protection Insurance Plans 2017 Ag Lenders Conference Garden City, KS October 2017 Dr. Monte Vandeveer KSU Extension Agricultural Economist PRF Insurance: background Pasture,
More informationFundamental Factors Affecting Agricultural and Other Commodities. Research & Product Development Updated July 11, 2008
Fundamental Factors Affecting Agricultural and Other Commodities Research & Product Development Updated July 11, 2008 Outline Review of key supply and demand factors affecting commodity markets World stocks-to-use
More informationCrops Marketing and Management Update
Crops Marketing and Management Update Grains and Forage Center of Excellence Dr. Todd D. Davis Assistant Extension Professor Department of Agricultural Economics Vol. 2018 (2) February 14, 2018 Topics
More informationDemand, supply, prices and geography
Deutsche Bank Markets Research Asia China Energy Industry Date 6 August 2014 Industry Update Demand, supply, prices and geography Getting our head around China's market for fertilizers We source this data
More informationFourth Quarter 2014 Earnings Conference Call. 26 November 2014
Fourth Quarter 2014 Earnings Conference Call 26 November 2014 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationUnderstanding Markets and Marketing
Art Understanding Markets and Marketing Randy Fortenbery School of Economic Sciences College of Agricultural, Human, and Natural Resource Sciences Washington State University The objective of marketing
More informationCommon stock prices 1. New York Stock Exchange indexes (Dec. 31,1965=50)2. Transportation. Utility 3. Finance
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 000 97 98 99 I90 9 9 9 9 9 9 97 98 99 970 97 97 ""..".'..'.."... 97 97 97 97 977 978 979 980 98 98 98 98 98 98 987 988
More informationANALYSTS BRIEFING YEAR Syed Aamir Ahsan - CFO FFBL (02 Feb 2012)
ANALYSTS BRIEFING YEAR 2011 Syed Aamir Ahsan - CFO FFBL (02 Feb 2012) SEQUENCE Global Trends Industry and FFBL Performance in 2011 Gas Curtailment PMP Operations Wind-Power Projects Update Outlook (Global
More informationCrops Marketing and Management Update
Crops Marketing and Management Update Grains and Forage Center of Excellence Dr. Todd D. Davis Assistant Extension Professor Department of Agricultural Economics Vol. 2018 (3) March 11, 2018 Topics in
More informationACE 427 Spring Lecture 6. by Professor Scott H. Irwin
ACE 427 Spring 2013 Lecture 6 Forecasting Crop Prices with Futures Prices by Professor Scott H. Irwin Required Reading: Schwager, J.D. Ch. 2: For Beginners Only. Schwager on Futures: Fundamental Analysis,
More informationIllinois Job Index Note: BLS revised its estimates for the number of jobs and seasonal adjustment method at the beginning of 2010.
Illinois Job Index Release Data Issue 4/21/2010 Jan 1990 / Mar 2010 Note: BLS revised its estimates for the number of jobs and seasonal adjustment method at the beginning of 2010. For April Illinois Job
More information11 May Energy Coal
11 May 217 Energy Coal Energy coal: dislocation from fundamentals Size of the Asia Pacific market 2 Energy Coal Market Volumes by Basin (Million Tonnes) 1, 9 8 7 6 5 4 3 2 1 The Asia-Pacific market is
More information2012 Fourth Quarter Financial Results
2012 Fourth Quarter Financial Results February 20, 2013 NYSE: CF Safe Harbor Statement All statements in this communication, other than those relating to historical facts, are forward-looking statements.
More informationCrops Marketing and Management Update
Crops Marketing and Management Update Grains and Forage Center of Excellence Dr. Todd D. Davis Assistant Extension Professor Department of Agricultural Economics Vol. 2017 (2) February 16, 2017 Topics
More informationYara International ASA 2017 fourth quarter results. 8 February 2018
Yara International ASA 217 fourth quarter results 8 February 218 Safe operations is our first priority 4.5 4. TRI (Total recordable injuries 12-month rolling) 1 3.5 3. 2.5 2. 1.5 Jan Feb Mar Apr May Jun
More informationInformed Storage: Understanding the Risks and Opportunities
Art Informed Storage: Understanding the Risks and Opportunities Randy Fortenbery School of Economic Sciences College of Agricultural, Human, and Natural Resource Sciences Washington State University The
More informationGRAIN HEDGE POSITION REPORT
GRAIN HEDGE POSITION REPORT CROP: Corn DATE: April 16, 2006 LONG POSITION SHORT POSITION Total Grain on Hand 753896 Grain in Transit Total Offsite Grain Total Stocks 753896 Unpriced Grain Storage 106375
More informationUK Grain Marketing Series January 19, Todd D. Davis Assistant Extension Professor. Economics
Introduction to Basis, Cash Forward Contracts, HTA Contracts and Basis Contracts UK Grain Marketing Series January 19, 2016 Todd D. Davis Assistant Extension Professor Outline What is basis and how can
More information2016 Annual Integrated Report GRAPHS
Annual Integrated Report GRAPHS PotashCorp AIR Graphs Page WHY POTASHCORP? GLOBAL POPULATION (billions) FERTILIZER CONSUMPTION GROWTH RATE FORECAST (percentage annual long-term global growth rate) GLOBAL
More informationA pre-harvest marketing plan can be written months (years?) in advance. Quiz Time!
Have a plan! Pre-harvest marketing is a broad view of the market, trying to take advantage of early seasonal price tendencies. Crop insurance is a critical part of marketing. A pre-harvest marketing plan
More informationFarm Land Value Farm Profitability
Farm Land Value Farm Profitability Dennis Stein, Farm Management March 5, 2014 MSU is an affirmative-action, equal-opportunity employer. Michigan State University Extension programs and materials are open
More informationSLOVENIA AG CONFERENCE
SLOVENIA AG CONFERENCE Thomas.Deevy@intlfcstone.com 23 rd November 2017 INTL FCStone Ltd ( IFL ). Branch registered in Ireland No. 907174. Registered in England and Wales Company No. 5616586. Authorised
More informationCommodity Price Outlook & Risks
Commodity Outlook & Risks Research Department, Commodities Team March, 2 www.imf.org/commodities commodities@imf.org This monthly report presents a price outlook and risk assessment for selected commodities
More informationSOYBEAN COMPLEX SPRING OUTLOOK
30 141 W. Jackson Boulevard THE HIGHTOWER REPORT FUTURES ANALYSIS & FORECASTING Suite 4002 Chicago, Illinois 60604 312-786-4450 / 800-662-9346 www.futures-research.com Special Report SOYBEAN COMPLEX SPRING
More informationHedging Potential for MGEX Soft Red Winter Wheat Index (SRWI) Futures
Hedging Potential for MGEX Soft Red Winter Wheat Index (SRWI) Futures Introduction In December 2003, MGEX launched futures and options that will settle financially to the Soft Red Winter Wheat Index (SRWI),
More informationXML Publisher Balance Sheet Vision Operations (USA) Feb-02
Page:1 Apr-01 May-01 Jun-01 Jul-01 ASSETS Current Assets Cash and Short Term Investments 15,862,304 51,998,607 9,198,226 Accounts Receivable - Net of Allowance 2,560,786
More informationMonthly Illinois Economic Review. Employment. May 2006 Positive. Talking Points REGIONAL ECONOMICS APPLICATIONS LABORATORY. Growth. Growth.
Employment May 2006 Positive Mar 2006 Apr 2006 Growth Number of Last 12 months Growth Number of Jobs Total non-farm employment Rate % Jobs Rate % Nation +0.10 +138,000 +1.48 +1,964,000 RMW +0.23 +46,100
More informationYara International ASA. Torgeir Kvidal, Head of Supply & Trade BofA-Merrill Lynch conference London, 7 December 2011
Yara International ASA Torgeir Kvidal, Head of Supply & Trade BofA-Merrill Lynch conference London, 7 December 211 A business strategy geared for global optimization Downstream Upstream Industrial Supply
More informationMarket Summary. Commitment of. Traders. Managed Money. Fund Positions
October 26, 2018 Market Summary The grain markets saw an increase in volatility to end the week with December corn declining 7 1/4 cents on Thursday before rebounding 6 3/4 cents on Friday. This follows
More informationManaging Class IV Opportunities
Managing Class IV Opportunities Dairy producers focus most of their hedging efforts on mitigating collapses in milk prices or collapses in margins. At more fortunate times they can turn their attention
More informationPHOENIX ENERGY MARKETING CONSULTANTS INC. HISTORICAL NATURAL GAS & CRUDE OIL PRICES UPDATED TO July, 2018
Jan-01 $12.9112 $10.4754 $9.7870 $1.5032 $29.2595 $275.39 $43.78 $159.32 $25.33 Feb-01 $10.4670 $7.8378 $6.9397 $1.5218 $29.6447 $279.78 $44.48 $165.68 $26.34 Mar-01 $7.6303 $7.3271 $5.0903 $1.5585 $27.2714
More informationCommodity Price Outlook & Risks
Commodity Outlook & Risks Research Department, Commodities Team 1 December 22, 20 www.imf.org/commodities commodities@imf.org This monthly report presents a price outlook and risk assessment for selected
More informationGlobal Economic Prospects: Navigating strong currents
Global Economic Prospects: Navigating strong currents Andrew Burns World Bank January 18, 2011 http://www.worldbank.org/globaloutlook Main messages Most developing countries have passed with flying colors
More information2017 Risk and Profit Conference Breakout Session Presenters. 14. Margin Protection Insurance
2017 Risk and Profit Conference Breakout Session Presenters Monte Vandeveer 14. Margin Protection Insurance Monte Vandeveer joined the KSU Extension Farm Management team in February 2016
More informationIllinois Job Index. Growth Rate %
Illinois Job Index Release Data Issue 03/14/2011 Jan 1990 / Jan 2011 2011.02 www.real.illinois.edu For January Illinois Job Index, the Nation, RMW and the state all had positive job growth. The monthly
More informationThe End of the World As We Know It Senior Analyst Darin Newsom. DTN/The Progressive Farmer 2012 Ag Summit December 12, 2012
The End of the World As We Know It Senior Analyst Darin Newsom DTN/The Progressive Farmer 2012 Ag Summit December 12, 2012 The End Were the Mayans Right? Signs, Signs, Everywhere are Signs Continued economic
More informationThe Feed Summer August 18, Curt Covington, SVP Agricultural Finance. Jackson Takach, Economist
The Feed Summer 206 Curt Covington, SVP Agricultural Finance Jackson Takach, Economist Brian Brinch, VP Financial Planning & Analysis August 8, 206 Your Presenters Today Curt Covington SVP of Agricultural
More informationMichael V. Dunn Commissioner Commodity Futures Trading Commission. Agricultural Outlook Forum February 24,
Michael V. Dunn Commissioner Commodity Futures Trading Commission Agricultural Outlook Forum February 24, 2011 1 Commodity Futures Trading Commission Mission Statement To Protect Market Users and the Public
More informationSaturday, January 5, Notes from Al
Get This Newsletter Every Saturday from Al Kluis Commodities..."Your Markets, Right Now"...AlKluis.com Saturday, January 5, 2013 Notes from Al Happy New Year and welcome to a volatile 2013. It has been
More informationSpheria Australian Smaller Companies Fund
29-Jun-18 $ 2.7686 $ 2.7603 $ 2.7520 28-Jun-18 $ 2.7764 $ 2.7681 $ 2.7598 27-Jun-18 $ 2.7804 $ 2.7721 $ 2.7638 26-Jun-18 $ 2.7857 $ 2.7774 $ 2.7690 25-Jun-18 $ 2.7931 $ 2.7848 $ 2.7764 22-Jun-18 $ 2.7771
More informationFEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES
FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES Minneapolis Options Report December 13 th Commodity Markets Option trading rose relative to two weeks ago to a more average level last week
More informationDaily Commentary. Corn (888) Monday, July 22, Today s Trade Action. Today s Closing Prices. Recommendations.
Corn The market finished lower but off it earlier lows as soybeans supplied support for the corn market today. The USDA cut the good to excellent rating by 3 points in crop condition report released after
More informationCrop Risk Management
Crop Risk Management January 28 th, 2010 Steven D. Johnson Farm & Ag Business Management Specialist (515) 957 5790 sdjohns@iastate.edu www.extension.iastate.edu/polk/farmmanagement.htm Source: Johnson,
More informationKnowing and Managing Grain Basis
Curriculum Guide I. Goals and Objectives A. To learn the definition of basis and gain an understanding of the factors that determine basis. B. To gain an understanding of the seasonal trends in basis.
More informationNutrien Q4 Results Presentation. February 5, 2018
Nutrien Q4 Results Presentation Forward Looking Statements 2 Certain statements and other information included in this presentation constitute "forward-looking information" or "forward-looking statements"
More informationYara International ASA Fourth quarter results 2014
1 Yara International ASA Fourth quarter results 2014 11 February 2015 2 Summary fourth quarter Strong result driven by higher margins Margins benefit from lower European gas prices and stronger US dollar
More informationYara International ASA 2017 third quarter results. 19 October 2017
Yara International ASA 217 third quarter results 19 October 217 Safe operations is our first priority 4.5 4. TRI (Total recordable injuries 12-month rolling) 1 3.5 3. 2.5 2. 1.5 Jan '16 Feb Mar Apr May
More informationBig Walnut Local School District
Big Walnut Local School District Monthly Financial Report for the month ended September 30, 2013 Prepared By: Felicia Drummey Treasurer BIG WALNUT LOCAL SCHOOL DISTRICT SUMMARY OF YEAR TO DATE FINANCIAL
More informationImproving Your Crop Marketing Skills: Basis, Cost of Ownership, and Market Carry
Improving Your Crop Marketing Skills: Basis, Cost of Ownership, and Market Carry Nathan Thompson & James Mintert Purdue Center for Commercial Agriculture Many Different Ways to Price Grain Today 1) Spot
More informationDEVELOP THE RIGHT PLAN FOR YOU.
DEVELOP THE RIGHT PLAN FOR YOU. The Agricultural Risk Consulting Group LLC Developing and Implementing Sound Risk Management Solutions (866) 574-2724 agriskconsulting.net What should you look for in a
More information3Q17 and 9M17 Results NOVEMBER 2017
3Q17 and 9M17 Results NOVEMBER 2017 Brazilian Fertilizer Market The Company & Financial Highlights Outlook In thousands of metric tons BRAZILIAN FERTILIZER MARKET - DELIVERIES +9.8% +1.3% +6.7% +3.3% 22,294
More informationFirst Quarter. January March 2016
First Quarter January March 2016 Highlights First quarter showed positive momentum for design industry. Design firms in March reported strong and accelerating business after a weak January and February.
More informationGrowth. Total non-farm Positive Nation , ,008,000
Employment May 2007 Jun 2007 Growth Number of Growth Last 12 months Number of Jobs Total non-farm June 2007 employment Rate % Jobs Rate % Positive Nation +0.10 +132,000 +1.48 +2,008,000 RMW* +0.11 +21,300-0.03-6,400
More informationNutrien Q Results Presentation. May 7, 2018
Nutrien Q1 2018 Results Presentation Forward Looking Statements 2 Certain statements and other information included in this presentation constitute "forward-looking information" or "forward-looking statements"
More informationUK Grain Marketing Series November 5, Todd D. Davis Assistant Extension Professor. Economics
Grain Marketing & Risk Management Overview UK Grain Marketing Series November 5, 2015 Todd D. Davis Assistant Extension Professor Risk vs. Uncertainty Most use these words interchangeably in conversation
More informationReport for June 2009
Report for June 2009 Issued July 1, 2009 National Association of Credit Management Combined Sectors The recovery from the recession of 2008 2009 continues to be a controversial topic as there are arguments
More informationASX Commodities: Grains
Commodities: Grains July 215 Kristen Hopkins Disclaimer This material contains information only. The information is for education purposes only and any advice should be sought from a professional adviser.
More informationMONETARY POLICY COMMITTEE STATEMENT FOR THIRD QUARTER Governor s Presentation to the Media. 22 nd November, 2017
1 MONETARY POLICY COMMITTEE STATEMENT FOR THIRD QUARTER 2017 Governor s Presentation to the Media 22 nd November, 2017 INTRODUCTION 2 The presentation is structured as follows: 1. Decision of the Monetary
More informationOptimal Cash Purchase. Price Risk. Phil Kenkel Oklahoma State University
Optimal Cash Purchase Strategies t to Reduce Fertilizer Price Risk Phil Kenkel Oklahoma State University Background Fertilizer represents 30-35% 35% of variable cost of production of grain crops and up
More informationDAILY MARKET REPORT 19 NOVEMBER 2018
DAILY MARKET REPORT 19 NOVEMBER 2018 Unigrain (Pty) Ltd Tel. No. : +27 11 692 4400 Fax. No. : +27 11 412 1183 Economic Indicators Quote at 12h00 previous day Current quote Change % Change Rand/Dollar 14.20
More informationFixed Income Update: June 2017
Fixed Income Update: June 2017 James Kochan Chief Fixed-Income Strategist Overview Political turmoil may obscure but does not usually overwhelm the economic fundamentals that drive the bond markets.. Those
More informationMarket Monitor September 2012
Market Monitor September 212 Excessive drought and extreme heat in the USA dominated agricultural commodity markets activity throughout the 212 summer growing season, pushing maize and soybeans prices
More informationBig Walnut Local School District
Big Walnut Local School District Monthly Financial Report for the month ended September 30, 2012 Prepared By: Felicia Drummey Treasurer BIG WALNUT LOCAL SCHOOL DISTRICT SUMMARY OF YEAR-TO-DATE FINANCIAL
More informationTop Producer Conference Chicago, Illinois January 21, 2009
Top Producer Conference Chicago, Illinois January 21, 2009 A Primer on Risk Management 2009 Jeff Beal JERRY GULKE S STRATEGIC MARKETING SERVICES, INC. PO BOX 6222, ROCKFORD, IL, 61125 Phone: 602-795-5893
More informationGrain Marketing. Innovative. Responsive. Trusted.
Grain Marketing Extension is a Division of the Institute of Agriculture and Natural Resources at the University of Nebraska Lincoln cooperating with the Counties and the United States Department of Agriculture.
More informationThe Mosaic Company. Earnings Conference Call First Quarter 2017
The Mosaic Company Earnings Conference Call First Quarter 2017 Presenters: Date: Joc O Rourke, President and Chief Executive Officer Rich Mack, Executive Vice President and Chief Financial Officer Laura
More informationDAILY MARKET REPORT 17 APRIL 2019
DAILY MARKET REPORT 17 APRIL 2019 Unigrain (Pty) Ltd Tel. No. : +27 11 692 4400 Fax. No. : +27 11 412 1183 Economic Indicators Quote at 12h00 previous day Current quote Change % Change Rand/Dollar 14.02
More informationMONTHLY MILK & FEED MARKET UPDATE
MONTHLY MILK & FEED MARKET UPDATE Provided By: Curtis Bosma - (312) 870-1185 - curtisb@highgroundtrading.com December 2014 A Sinking Ship? As the leaves began to fall, so did milk futures. Cheese sellers
More informationHistorical Pricing PJM COMED, Around the Clock. Cal '15 Cal '16 Cal '17 Cal '18 Cal '19 Cal '20 Cal '21 Cal '22
$50 Historical Pricing PJM COMED, Around the Clock $48 $46 $44 $42 $40 $38 $36 $34 $32 $30 $28 $26 Cal '15 Cal '16 Cal '17 Cal '18 Cal '19 Cal '20 Cal '21 Cal '22 The information presented above was gathered
More informationChina Economic Outlook 2013
China Economic Outlook 2 Key Developments in Brief - Mild recovery of GDP growth: +8 8.5% - Construction and consumption as main drivers - Inflationary pressure to increase: +3% - Tight labor market and
More informationCost Estimation of a Manufacturing Company
Cost Estimation of a Manufacturing Company Name: Business: Date: Economics of One Unit: Manufacturing Company (Only complete if you are making a product, such as a bracelet or beauty product) Economics
More informationDAILY MARKET REPORT 21 DECEMBER 2018
DAILY MARKET REPORT 21 DECEMBER 2018 Unigrain (Pty) Ltd Tel. No. : +27 11 692 4400 Fax. No. : +27 11 412 1183 Economic Indicators Quote at 12h00 previous day Current quote Change % Change Rand/Dollar 14.25
More informationReport for April 2017
Report for il 2017 Issued. 28, 2017 National Association of Credit Management Combined Sectors The big question circulating among those who try to read the economic tea leaves is whether reality or expectation
More informationFutures and Options Live Cattle Feeder Cattle. Tim Petry Livestock Marketing Economist NDSU Extension
Futures and Options Live Cattle Feeder Cattle Tim Petry Livestock Marketing Economist NDSU Extension www.ndsu.edu/livestockeconomcs FutOpt-Jan2019 Price Risk Management Tools Cash forward contract Video
More informationReview of Registered Charites Compliance Rates with Annual Reporting Requirements 2016
Review of Registered Charites Compliance Rates with Annual Reporting Requirements 2016 October 2017 The Charities Regulator, in accordance with the provisions of section 14 of the Charities Act 2009, carried
More informationUsing projections to manage your programs
Using projections to manage your programs To project total provider reimbursements To do what ifs based on caseloads or other metrics To project amounts of admin & support available for spending Based
More informationMacroeconomic Risks for Farmer Cooperatives
Macroeconomic Risks for Farmer Cooperatives KFSA Directors & Management Meeting Hutchinson, KS November 21 st, 2011 Brian C. Briggeman Associate Professor and Director of the Arthur Capper Cooperative
More informationDairy Outlook. August By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook August 2014 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology The prices of all dairy products have been mixed since last month. The CME block cheese
More informationConsumer confidence and economic climate indicators continue to increase
%/3mma Business and Consumer Surveys July 2017 28 July 2017 Consumer confidence and economic climate indicators continue to increase The Consumer confidence indicator increased in July, resuming the positive
More informationMechanics of Cash Flow Forecasting
Texas Association Of State Senior College & University Business Officers July 13, 2015 Mechanics of Cash Flow Forecasting Susan K. Anderson, CEO Anderson Financial Management, L.L.C. 130 Pecan Creek Drive
More information