OMAHA (DTN) -- Retail fertilizer prices continued to be slightly higher again the third week of April 2022, according to sellers surveyed by DTN.
The prices of two fertilizers were higher by a significant amount compared to last month, which DTN designates as 5% or more.
The average retail price of MAP was up 6% compared to last month. The phosphorus fertilizer had an average price of $1,079/ton. This ties the all-time-high price for MAP in our DTN data set. The previous time this level was achieved was the first week of November 2008.
The other fertilizer up considerably in price was UAN32, which was 5% more expensive compared to last month. The liquid nitrogen's average price was $730/ton (all-time high price).
The remaining six fertilizers were slightly higher looking back to last month. DAP had an average price of $1,050/ton (all-time high), potash $879/ton, urea $1,012/ton (all-time high), 10-34-0 $906/ton, anhydrous $1,534/ton (all-time high) and UAN28 $631/ton (all-time high).
On a price per pound of nitrogen basis, the average urea price was at $1.10/lb.N, anhydrous $0.94/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N.
Farm machinery manufacturer John Deere could see setbacks in the year ahead, as rising fertilizer prices and other input costs could affect demand for equipment from farmers, according to Dow Jones. Analysts at Bank of America said in a research note that Deere is concerned about farmers' costs in the future.
Overall, farmers appear to be set for an "excellent year" of profitability in 2023, but sentiment on big investments appears to be rolling over.
"A higher-than-expected number of dealers are complaining that soaring fertilizer costs could come out of new equipment budgets," according to Bank of America, Dow Jones reported.
Most fertilizers continue to be considerably higher in price than one year earlier.
10-34-0 is 48% more expensive, MAP is 54% higher, DAP is 68% more expensive, UAN28 is 81% higher, UAN32 is 87% more expensive, urea is 99% is higher, potash is 103% higher and anhydrous is 117% 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 look at the three fertilizers not at their all-time high prices and how close they really are to reaching those levels. You can read it here: https://www.dtnpf.com/….
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Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
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