DTN Retail Fertilizer Trends

Phosphate Prices Lead Fertilizer Market Higher

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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At $1,047/ton, the average retail price of DAP fertilizer is 68% more expensive than last year. It's also the highest on record. (DTN chart)

OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the second week of April 2022 show all eight major fertilizers had higher prices than the previous month. This has been the trend in recent weeks.

Leading the way higher was DAP. The phosphorus fertilizer was 8% more expensive compared to last month and had an average price of $1,047/ton, which is an all-time high price in the DTN data set.

Two fertilizer prices were also significantly higher compared to last month. DTN designates a significant move as 5% or more.

MAP and urea were both 7% higher than in late March. MAP had average price of $1,071/ton while urea is at $1,017/ton (all-time high).

The remaining five fertilizers were slightly higher looking back to last month. Potash had an average price of $875/ton, 10-34-0 $906/ton, anhydrous $1,534/ton (all-time high), UAN28 $630/ton (all-time high) and UAN32 $730/ton (all-time high).

On a price per pound of nitrogen basis, the average urea price was at $1.11/lb.N, anhydrous $0.94/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N.

Those who grew crops in drought areas last year might see an unusual opportunity this spring. Last year's dry weather may have led to a nitrogen carryover credit that is not normally there, according to University of Minnesota Extension.

When there is enough of a water deficit in the soil profile that melting snow and spring rains do not saturate the soil, there is less risk of nitrogen loss, which means farmers might be able to take a nitrogen credit. It is anticipated this may be the case at some point this year or next following the dry conditions experienced in much of state of Minnesota in 2021.

"Minnesota Valley Testing Labs conducted soil nitrate tests last fall and generously shared their data with us," a University of Minnesota Extension report said. "Over 70% of the nearly 240 samples analyzed had an N credit of at least 35 pounds. Nearly 30% of the samples had N credits of 155 pounds or more."

University of Minnesota research going back to the early 1990s recommends producers use a pre-plant soil nitrate test (PPNT) in two certain situations. One would be in fields with a long-term manure application history and two would be in continuous corn following a drought.

"If you are growing corn this year, remember to request and use the PPNT, which gives results in ppm nitrate, and not the pre-sugar beet test, which gives results in pounds per acre," the report said. "For similar reasons, you should not use recommendations from out-of-state, as the interpretation of the test results may not be correlated to the test protocol used in Minnesota."

To read the entire University of Minnesota Extension report click on the following link: https://blog-crop-news.extension.umn.edu/…

Most fertilizers continue to be considerably higher in price than one year earlier.

10-34-0 is 49% more expensive, MAP is 53% higher, DAP is 68% more expensive, UAN28 is 83% higher, UAN32 is 89% more expensive, urea is 100% is higher, potash is 103% higher and anhydrous is 119% more expensive compared to last year.

DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.

We take a look at how close three fertilizers are their all-time highs here: https://www.dtnpf.com/….

Dry
Date Range DAP MAP POTASH UREA
Apr 12-16 2021 624 702 432 509
May 10-14 2021 631 702 437 515
Jun 7-11 2021 656 717 450 527
Jul 5-9 2021 690 729 491 549
Aug 2-6 2021 695 755 557 556
Aug 30-Sep 3 2021 697 756 571 557
Sep 27-Oct 1 2021 722 800 647 620
Oct 25-29 2021 812 873 731 751
Nov 22-26 2021 830 915 775 868
Dec 20-24 2021 862 932 807 910
Jan 17-21 2022 863 932 807 916
Feb 14-18 2022 874 935 815 891
Mar 14-18 2022 970 1001 843 954
April 11-15 2022 1047 1071 875 1017
Liquid
Date Range 10-34-0 ANHYD UAN28 UAN32
Apr 12-16 2021 609 700 345 387
May 10-14 2021 620 713 361 406
Jun 7-11 2021 620 718 363 414
Jul 5-9 2021 624 732 371 421
Aug 2-6 2021 631 738 367 418
Aug 30-Sep 3 2021 632 749 371 420
Sep 27-Oct 1 2021 638 782 388 444
Oct 25-29 2021 663 982 458 522
Nov 22-26 2021 755 1308 574 660
Dec 20-24 2021 791 1424 583 679
Jan 17-21 2022 800 1433 585 683
Feb 14-18 2022 837 1488 603 703
Mar 14-18 2022 876 1520 610 706

Russ Quinn can be reached at Russ.Quinn@dtn.com

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Russ Quinn