The MAP (monoammonium phosphate) prices in Brazil saw positive momentum last week. Brazil is still a favorable market for fertilizer producers.
Potash prices continued to show strength in the week ending October 13. The prices continue to support companies’ volume growth.
In the week ending October 13, 2017, the DAP (diammonium phosphate) prices were broadly mixed week-over-week.
The natural gas prices at Henry Hub in the US fell 4.1% week-over-week from a weekly average of $2.96 per MMBtu to a weekly average of $2.84 per MMBtu.
On average, granular urea prices were flat to positive week-over-week. In NOLA (New Orleans), granular urea prices rose as much as 3.5% week-over-week.
For the week ending October 13, fertilizer stocks were broadly positive from the beginning of the week. MOO rose 1.7% from the beginning of the week.
At 7:00 AM EST on October 18, the WTI crude oil futures contracts for November 2017 delivery were trading at $52.08 per barrel—a gain of ~0.39%.
The spot price for Central Appalachian coal was reported at $55.50 per short ton, remaining constant compared to the week ended October 6, 2017.
The coal shipments for the week ended October 7, 2017, totaled 15.1 MMst (million short tons).
On October 13, 2017, Brent crude oil prices settled at $57.17 per barrel, 3% higher than $55.60 reported during the previous week.
On October 16, the November US natural gas futures contract price was reported as $2.95 per MMBtu.
According to the EIA, the natural gas inventory for the week ended October 6 was 3,595 Bcf (billion cubic feet). The storage amount is higher than the previous week’s 3,508 Bcf.
SLW, GOLD, and IAG have seen YTD (year-to-date) gains of 5.2%, 31.6%, and 59.7%, respectively. But CDE has seen a marginal YTD loss of 1.7%.
The PowerShares DB Gold Fund (DGL) and the Vaneck Merk Gold Trust (OUNZ) have risen 12.1% and 12.95, respectively, year-to-date, taking strong cues from gold.
The Physical Silver Shares (SIVR) and Physical Swiss Gold Shares (SGOL) witnessed rises on Friday, October 16, climbing 0.98% and 0.81%, respectively.
Gold rose to a three-week-high level of $1,304.1 per ounce on Friday, October 13, and closed at $1,302.9.
Baker Hughes (BHI) published its weekly US oil and gas count report on October 13. US oil rigs fell by five to 743 from October 6 to 13.
The market anticipates that crude oil inventories at Cushing rose from October 6 to 13. Cushing inventories rose for the ninth time in the last ten weeks.
The US benchmark, WTI (or West Texas Intermediate) crude oil (UWT)(DBO) prices, hit $54.45 per barrel on February 23.
The US Dollar Index rose 0.22% to 93.14 on October 16. It’s near a one-week high. The US dollar (UUP) rose due to the rise in US Treasury yields.