DTN Retail Fertilizer Trends

All Retail Fertilizer Prices End March 2023 Lower

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The average retail price of anhydrous in the fourth full week of March 2023 was $1,026 per ton, down 5% from last month. (DTN chart)

OMAHA (DTN) -- All average retail fertilizer prices were down from last month in the fourth full week of March 2023, according to sellers surveyed by DTN. However, after weeks of prices for several fertilizers being considerably lower, only one fertilizer -- anhydrous -- was substantially less expensive.

Once again, all eight of the major fertilizer prices are lower compared to last month. DTN designates a significant move as anything 5% or more.

Leading the way lower was anhydrous. The nitrogen fertilizer was 5% lower compared to last month and had an average price of $1,026 per ton.

The remaining seven fertilizers were all just slightly lower compared to last month. DAP had an average price of $818 per ton, MAP $810/ton, potash $644/ton, urea $626/ton, 10-34-0 $741/ton, UAN28 $428/ton and UAN32 $513/ton.

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On a price per pound of nitrogen basis, the average urea price was at $0.68/lb.N, anhydrous $0.63/lb.N, UAN28 $0.76/lb.N and UAN32 $0.80/lb.N.

In a recent news release, The Fertilizer Institute (TFI) President and CEO Cory Rosenbusch praised Congress for introducing the Advancing Cutting Edge (ACE) Agriculture Act. The legislation aims to help farmers by focusing USDA research on critical areas such as soil health and increasing crop yields.

"With our global population expected to hit 10 billion people by 2050, farmers are constantly being asked to do more with less, while also being good environmental stewards by taking care of the land that takes care of us," Rosenbusch said. "The fertilizer industry puts a strong focus on research and the farmer adoption of 4R Nutrient Stewardship practices and other methods that improve soil health, encourage the responsible and efficient use of fertilizer, increase crop yields, and minimize impacts to the environment, and welcomes additional government research into these areas."

The fertilizer industry has long supported agricultural research through the 4R Research Fund, as well as independent research that has focused on multiple crops, geographical locations and methods to show farmers the beneficial outcomes of new technologies and farming practices, according to the release. In addition to the industry efforts through the 4R Research Fund, TFI is a year and half into a drive to reach a nationwide goal of having 70 million U.S. farming acres under 4R nutrient stewardship management by 2030. The 4Rs stand for right source, right rate, right time and right place.

All fertilizers are now double digits lower compared to one year ago. 10-34-0 is 17% less expensive, DAP is 21% lower, MAP is 23% less expensive, potash is 26% lower, UAN32 is 28% less expensive, both anhydrous and UAN28 are 33% lower and urea is 39% 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/….

Fertilizer prices for the third week of March show all fertilizers are again lower compared to last month with half of the fertilizers down a significant amount. You can read more about it here: https://www.dtnpf.com/….

DRY
Date Range DAP MAP POTASH UREA
Mar 28-Apr 1 2022 1033 1045 868 1022
Apr 25-29 2022 1049 1082 881 1004
May 23-27 2022 1056 1082 879 989
Jun 20-Jun 24 2022 1040 1058 885 902
Jul 18-22 2022 1007 1043 887 836
Aug 15-19 2022 978 1026 881 807
Sep 12-16 2022 952 1009 877 808
Oct 10-14 2022 925 986 863 824
Nov 7-11 2022 931 980 853 812
Dec 5-Dec 9 2022 920 950 819 784
Jan 2-Jan 6 2023 876 879 752 739
Jan 30-Feb 3 2023 847 862 704 698
Feb 27-Mar 3 2023 827 827 666 648
Mar 27-31 2023 818 810 644 626
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Mar 28-Apr 1 2022 896 1526 637 711
Apr 25-29 2022 906 1534 631 730
May 23-27 2022 906 1531 634 731
Jun 20-Jun 24 2022 905 1497 616 716
Jul 18-22 2022 894 1431 598 696
Aug 15-19 2022 878 1336 576 676
Sep 12-16 2022 861 1369 578 665
Oct 10-14 2022 759 1417 576 670
Nov 7-11 2022 758 1434 582 680
Dec 5-Dec 9 2022 751 1415 581 681
Jan 2-Jan 6 2023 754 1302 573 673
Jan 30-Feb 3 2023 754 1223 518 583
Feb 27-Mar 3 2023 741 1077 444 525
Mar 27-31 2023 741 1026 428 513

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

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Russ Quinn