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latest fert market report 13 july

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    Weekly Fertilizer Review
    Full download at link below. Grain markets have staged strong recovery since last week ...

    -----------------------------------------------
    Wholesale urea prices tumble.
    Compiled by staff
    Published: Jul 13, 2011

    Even as retail fertilizer prices move higher at a time when they're normally weak, wholesale costs are showing signs of cracking in response to the big drop in crop prices recently.

    Urea prices, which started softening in late June on international markets, tumbled in the latest week as more sales out of China added pressure. Prices out of the Black Sea were off $30 a ton to $432, while the Middle East was off $36 to $449. The Gulf saw a less dramatic decline, with trade there put at $467.50, down $12.50 a ton while terminals were asking around $525 on the southern Plains.

    Retail prices in Illinois, meanwhile, shot up $40 a ton to $542.50, reflecting the earlier wholesale price hikes seen in June before prices topped out. It's not unusual for urea prices to soften into late summer on wholesale markets before serious fall buying begins. Still, the top end of the retail price range for Illinois reported by USDA at $480 to $605 remains below projections by our model, which are all the way up to $651. Fall prices already are projected at least $20 lower based on current forward contracts. But with corn prices on the rise, dips may still be short-lived.

    For a complete look at the fertilizer market including other key inputs, download the complete report below.

    http://www.farmfutures.com/mdfm/Faress1/author/9/WFertR071311.pdf
 
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