Terminology Corn price refers to dry 2021 fall corn delivered to your local DeLong area location. For exact price you should contact your local DeLong manager.

Fertilizer price refers to the spring of 2021 deliv-ered price of UREA, DAP, or UAN in the Rock Coun-ty area.

Corn ↑ Dec '20 | 4.09 3/4 | +4 1/2 ↑ Dec '21 | 3.95 1/4 | +2 Corn prices followed gains in the soy complex this morning, as dry planting conditions in Bra-zil cause concerns about harvest delays and reduced yields. Soybean ↑ Jan '21 |10.99 | +12 3/4 ↑ Nov '21 | 9.96 1/4 | +5 3/4 Export demand from China and Brazil sent Chi-

cago soybean futures contract prices higher

this morning.

Wheat Market

↑ Dec '20 | 6.16 | +10 ↑ July '21 | 6.11 1/4 | +7 1/2 Last week’s rains in the Southern Plains likely

fell below the amount needed to substantially

improve declining winter wheat conditions.

U.S. Fertilizer News

The quick fall harvest pace in fields has greatly

stressed local fertilizer inventories of potash

and DAP, especially with the Northern Illinois

river still closed due to repairs. It has been

reported that if work stays on schedule the

river should open the first week in November,

which will be much needed to refill local ferti-

lizer warehouses. However until this happens

local fertilizer outages will be present if the

good weather pattern continues.

The UREA/cash corn ratio is derived from the Nov’ 20' UREA value and the fall 21' new crop corn value. The current UREA cash corn ratio is 94 bu/ton, which is 2 bushel/ton lower than last weeks value.

The UAN/cash corn ratio is derived from the Nov' 20' UAN value and the fall 21' new crop corn value. The current UAN cash corn value is 62 bu/ton, which is 1 bushel/ton lower than last weeks value.

The DAP/cash corn ratio is derived from the Nov' 20' DAP value and fall 21' new crop corn value. The current DAP cash corn value is 132bu/ton, which is 8 bushel/ton lower than last weeks value.

FERTILIZER NEWSLETTER NOVEMBER 5, 2020

MARKET UPDATE