DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continue their march lower, according to prices tracked by DTN for the third full week of February 2023. This trend has been with us since before the beginning of the New Year.

All eight of the major fertilizer prices are once again lower compared to last month. Five of the eight fertilizers had a substantial price decline. DTN designates a significant move as anything 5% or more.

Leading the way lower was UAN32 and UAN28 once again. UAN32 was 12% lower compared to last month while UAN28 was 10% less expensive. UAN32 had an average price of $554/ton while UAN28 was at $470/ton.

Anhydrous was 9% lower looking back a month prior. The nitrogen fertilizer's average price was $1,124/ton.

Both potash and urea were 6% less expensive compared to the month prior. Potash had an average price of $673/ton and urea was $666/ton.

The remaining three fertilizers were all just slightly lower compared to the prior month. DAP had an average price of $836/ton, MAP $834/ton and 10-34-0 $741/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.72/lb.N, anhydrous $0.69/lb.N, UAN28 $0.84/lb.N and UAN32 $0.86/lb.N.

The Fertilizer Institute (TFI) President and CEO Corey Rosenbusch, testified before the House Committee on Agriculture hearing "Uncertainty, Inflation, Regulations: Challenges for American Agriculture" on Tuesday, according to a TFI press release (https://www.tfi.org/…).

Much of Rosenbusch's testimony focused on the fact that fertilizer is a globally traded commodity subject to international pressures and geopolitical events.

"Domestic production of fertilizer accounts for only 7% of global production and 90% of all fertilizer usage happens outside of the United States," Rosenbusch said. "Geopolitical events have been the biggest disrupter to fertilizer markets in recent years."

These geopolitical events include sanctions on Belarus, which supplies 20% of the world's potash supply; China, which is a major exporter of fertilizers, but last year imposed restrictions on fertilizer exports; and Russia, which has historically provided 20% of global fertilizer supplies as the world's largest fertilizer exporter.

Rosenbusch offered solutions Congress could act on to improve domestic fertilizer production and supply.

"Regulatory certainty is perhaps the most significant area Congress could help," he said.

"Additionally, listing potash and phosphate as critical minerals, energy policy that supports an abundant and affordable supply of natural gas, permitting reform to streamline long-delayed fertilizer projects, focusing on USDA conservation programs that empower agronomists and certified crop advisors to help farmers with nutrient management and a focus on supply chain bottlenecks through improved rail service and promoting driver recruitment and retention."

All fertilizers are now lower compared to one year ago. DAP is 4% less expensive, MAP and 10-34-0 are both 11% lower, potash is 17% less expensive, UAN32 is 21% lower, UAN28 is 22% less expensive, anhydrous is 24% lower and urea is 25% less expensive compared to a year prior.

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

In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….

Global fertilizer supply shortages seen in 2022 will likely persist into 2023. You can read it here: https://www.dtnpf.com/….

Dry
Date Range	DAP	MAP	POTASH	UREA
Feb 21-25 2022	874	934	815	885
Mar 21-25 2022	1014	1018	850	976
Apr 18-22 2022	1050	1079	879	1012
May 16-20 2022	1059	1083	878	993
Jun 13-Jun 17 2022	1046	1074	879	961
Jul 11-15 2022	1030	1052	885	861
Aug 8-12 2022	982	1032	881	812
Sep 5-9 2022	952	1009	878	800
Oct 3-7 2022	934	997	869	826
Oct 31-Nov 4 2022	930	981	857	826
Nov 28-Dec 2 2022	926	960	831	795
Dec 26-Dec 30 2022	885	891	765	751
Jan 23-Jan 27 2023	855	865	714	708
Feb 20-Feb 24 2023	836	834	673	666
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
Feb 21-25 2022	837	1488	602	703
Mar 21-25 2022	881	1523	622	698
Apr 18-22 2022	906	1534	631	730
May 16-20 2022	906	1529	634	731
Jun 13-Jun 17 2022	905	1516	630	730
Jul 11-15 2022	904	1449	606	701
Aug 8-12 2022	881	1365	578	678
Sep 5-9 2022	866	1357	579	658
Oct 3-7 2022	813	1390	565	652
Oct 31-Nov 4 2022	759	1426	583	680
Nov 28-Dec 2 2022	753	1416	583	681
Dec 26-Dec 30 2022	751	1325	573	679
Jan 23-Jan 27 2023	754	1237	523	630
Feb 20-Feb 24 2023	741	1124	470	554

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

Follow him on Twitter @RussQuinnDTN

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