Limited cashflow and adverse weather conditions during February have kept the fertiliser trade subdued.
With demand uncharacteristically low at the start of March, prices are unchanged and there are numerous deals on offer.
CAN is trading around £180/t to £182/t for full loads, rising to £185/t for half loads with payment on delivery or inside 30 days. Purchases of smaller quantities are holding at £190/t.
Urea has been very slow to move
Compared to the same month last year, CAN prices are down by £55/t to £60/t.
Urea has been very slow to move, with some merchants indicating that farmers enquiring about fertiliser are now looking for CAN, as nitrogen applications will be later than normal.
High volumes of slurry on farm are also taking the edge off the demand for urea.
To encourage sales of urea, prices have eased by as much as £10/t on full loads with merchants quoting £260/t, with half loads costing £265/t.
Compounds
Compound fertilisers have also eased in price, with 27-4-4 plus sulphur and 25-5-5 trading from £238/t to £245/t for full and half loads, down from £252/t to £258/t in early February and significantly lower than the £285/t quoted in March 2019.
Other products such as 24-6-12 are now trading around £260/t to £265/t, down £10/t on February and £60/t on the year.
Spring cereals
Elsewhere, seed barley and wheat have seen a spike in demand on the back of the reduced acreage of winter crops planted, especially where cereals follow potatoes in rotation.
However, the extra demand has not affected prices, which are comparable with last year.