OMAHA (DTN) --- Retail fertilizer prices tracked by DTN for the fourth week of August 2021 show slightly higher prices once again. However, this is the second straight week that no fertilizer saw significantly higher prices, which DTN designates as 5% or greater.
All eight of the major fertilizers were slightly higher compared to last month.
Potash, which cost $569/ton, had the largest change from last month, up 4% or $20/ton.
The rest of the fertilizers saw 1% price increases or less. DAP had an average price of $697/ton, MAP $756/ton, urea $557/ton, 10-34-0 $632/ton, anhydrous $748/ton, UAN28 $370/ton and UAN32 $420/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.61/lb.N, anhydrous $0.46/lb.N, UAN28 $0.66/lb.N and UAN32 $0.66/lb.N.
The affordability of fertilizer is on the decline, according to the most recent edition of the Rabobank North American Agribusiness Review.
Fertilizer prices have continued to rise since their last publication two months ago. At the same time, corn and soybean prices have decreased since their mid-June levels. This is pushing affordability of fertilizer prices in a less favorable direction, the report stated.
"Corn Belt potash prices are currently at their 'least affordable position' since 2019 and well above the five-year average," the report said. "While phosphate and nitrogen affordability trend negatively, they remain within the five-year range."
Another factor that could push fertilizer higher is issues with global trade. Geopolitics and COVID-19 are causing issues for more than just fertilizers, as agrochemicals could see an equally choppy ride in 2022.
Several factors, including high freight rates (up tenfold since early COVID-19 lows), high raw material and energy costs as well as increased global demand could combine to force elevated prices or scarce product availability for the next growing season, the report stated.
Retail fertilizer prices compared to a year ago show all fertilizers have increased significantly.
10-34-0 is now 36% more expensive, urea is 57% higher, DAP and potash are 62% more expensive, UAN32 is 63% higher, both UAN28 and anhydrous are 69% more expensive and MAP is 74% higher compared to last year.
DTN surveys more than 300 retailers, gathering roughly 1,700 fertilizer price bids, to compile the DTN Fertilizer Index each week. In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….
A long-planned potash mine gets the green light for construction in Saskatchewan, Canada, was the focus of last week's Retail Fertilizer Trends column. You can read it here: https://www.dtnpf.com/….
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Russ Quinn can be reached at firstname.lastname@example.org
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