Ontario Farm Input Monitoring Project Survey #2, May 30, 2012

BackgroundONTARIO/U.S. FARM INPUT MONITORING PROJECTSURVEY # 2 ‐ May 30, 2012ECONOMICS AND BUSINESS SECTION, RIDGETOWN CAMPUS ‐ U OF GThe Ontario/U.S. Farm Input Monitoring Project is a survey of farm supply stores to collect cash retailprices that commercial farmers pay, when purchasing bulk fuels, fertilizers, and pesticides. Prices arecollected on 45 farm inputs from 10 centres in Ontario, 3 in Michigan, 1 in Ohio and 1 in Indiana.Enumerators obtained current pricing from a minimum of 3 retail outlets in their assigned centre usingthe pre‐designed survey form.Results(i) U.S. PricesThis is the second survey for the 2012 year. On May 30, 2012, the Canadian dollar was slightlylower than the U.S. dollar ($1 C = $0.9722 US). The Canadian dollar is down $0.05 or 5% relative to theU.S. dollar from a year ago. U.S. product prices when compared to a year ago at this time (survey date:May 25, 2011), show that fuel prices are down an average of 7%, fertilizer prices are up 6% on average,and pesticide prices are up 4% on average.Since the previous survey on May 16, 2012, changes in average prices show the fuel products groupdown 3%, while fertilizer products as a group are relatively unchanged. Pesticide products as a group arealso relatively unchanged. The Canadian dollar has decreased $0.02 or 2% relative to the U.S. dollar.On May 30, 2012, Regular Unleaded Gasoline prices ranged from $3.29 to $3.93 per gallon with anaverage price of $3.75. Diesel Fuel (farm) averaged $3.51 per gallon with a range of $3.32 to $3.74.Propane (farm dryer) prices averaged $1.72 per gallon.Fertilizer prices showed Anhydrous Ammonia prices ranging from $810 to $950 a ton with an averageprice of $872. Urea prices ranged from $655 to $895 a ton. Nitrogen Solution (UAN) 28% prices averaged$445 per ton. Mono‐Ammonium Phosphate prices ranged from $610 to $760 with an average price of$684 per ton. Muriate of Potash prices averaged $649 per ton with a range from $590 to $818.With respect to pesticide prices, 2,4‐D Amine prices ranged from $15.97 to $27.43 per gallon with anaverage of $21.34. Atrazine prices averaged $17.03 per gallon while Banvel averaged $54.59 per gallon.Dual II Magnum prices ranged from $103.00 to $146.67 per gallon. The price for Roundup Weather Maxvaried from $18.24 to $31.20 with an average price of $26.68 per gallon. Force 3G prices ranged from$4.60 to $5.96 per pound.(ii) Comparison Between Ontario and Nearby U.S. StatesSome of the products higher priced in Ontario include: Regular Unleaded Gasoline +14%; Diesel Fuel+7%; Anhydrous Ammonia +13%; Mono‐Ammonium Phosphate +6%; Atrazine +75%; Dual II Magnum+15%; and Sevin XLR +22%.Products lower priced in Ontario include: Propane ‐2%; Urea ‐14%; Nitrogen Solution ‐9%; RoundupWeather Max ‐6%; and Pardner/Buctril ‐6%.The exact implications at the farm level of this variability between Ontario and the U.S. for farminputs depends greatly on individual producer product selections and purchase timing.