Granular urea is still trading at $415-425/tonne globally, representing a UK delivered replacement farm level of £310 – 320/tonne which could firm further depending the outcome of political world events that we have seen take place this week. In the UK, granular urea is still trading at a £10/t discount to replacement but recent stock levels have been recorded as being much lower than first reported and this may also add some upside to the UK urea market as demand picks up. Currently Urea represents an extremely good buy on a cost per unit basis and is going on farm at a level that even the largest cynics of urea cannot ignore.
It is unknown whether the problems in the Ukraine will have an effect on Ammonium nitrate prices in Europe but obviously any threat to gas supply could potentially firm prices from levels today. CAN prices have traded higher this week and Imported tonnes are not available until April at the earliest so on any imported material we are entering a period of instability. In the UK however GrowHow remain active in trying to catch up on deliveries and execute their outstanding order book, pricing has traded sideways which may suggest that we are seeing domestic AN pricing at the peak. In April / May we expect GrowHow product to be competitively priced vs imported nitrogen so before booking anything in this period speak to your local Gleadell Farm Trader.
The potash market in the UK looks firm as demand outstrips supply. Stock levels with all blenders are low and with high rainfall, potash requirements across the UK are very high. We expect potash prices to remain firm in the short term until stocks are replenished in April/May.
Phosphates have stabilised and continue to trade at the same level in the UK over the last week. After nearly 12 weeks of global increases, demand has slowed for replacement product. In the UK, NPK grades are still in demand as the weather warms up and land dries out enough to start applications.
The spring barley market has remained prominent this week with many growers looking to cover their requirements in order to ensure timely delivery. Sanette, the highest yielding spring barley on the HGCA recommended list has remained popular with growers as it shows high yield potential across all regions in the UK. Propino, Odyssey and Concerto have also all remained available.
Cheerio Null-lox barley has now sold out however a limited amount of Cha Cha and Chapeau has become available.
Mulika, the top yielding group 1 bread-making spring wheat has remained the variety of choice by many. KWS Alderon has continued to be popular with growers looking for a high yielding feed variety.
Marrowfat Kabuki peas are a worthwhile break crop – they offer an outstanding gross margin opportunity and are suitable for all end users. Attractive buyback contracts remain available.
Gleadell are in a position to be able to offer the top yielding conventional and hybrid winter oilseed rape varieties on the recommended list for Autumn 2014, both with deferred payment.
Charger is a very vigorous, lower biomass variety that has exceptional autumn growth. Charger is the top yielding conventional variety from breeder KWS.
Incentive, from breeder DSV, is the top yielding hybrid. Incentive combines a consistent yield and has an outstanding oil content.
Autumn 2014 also welcomes Evolution, from breeder Limagrain. Evolution is the new high yielding group 4 with excellent disease resistance – making it the perfect companion to Kielder and Santiago.