DTN Retail Fertilizer Trends

OMAHA (DTN) -- Most average retail fertilizer prices continued to be down from the previous month in the fourth week of April 2023, according to sellers surveyed by DTN.

Prices for seven of the eight major fertilizers were lower compared to last month. DTN designates a significant move as anything 5% or more.

After a week off, anhydrous returned to lead fertilizer prices lower. The nitrogen fertilizer was 10% lower compared to last month and had an average price of $928 per ton.

Urea was 5% less expensive compared to last month. The nitrogen fertilizer had an average price of $595/ton. This was the first time since the third week of September 2021 that the price of urea was below the $600-per-ton level. That week, the average urea price was $585/ton.

Six other fertilizers were just slightly lower compared to last month. MAP had an average price of $804/ton, potash $624/ton, 10-34-0 $740/ton, UAN28 $426/ton and UAN32 $508/ton.

One fertilizer, meanwhile, was slightly higher compared to last month. DAP had an average price of $827/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.65/lb.N, anhydrous $0.57/lb.N, UAN28 $0.76/lb.N and UAN32 $0.79/lb.N.

Tim Schnakenberg, a University of Missouri Extension agronomist, reminds producers a simple soil test can help forage producers avoid the costly guessing game of how much fertilizer to purchase and apply. He recommends testing soils every three or four years (https://extension.missouri.edu/….

"If you're not soil testing, you're already behind," Schnakenberg said.

While 2023 fertilizer prices are down from last year's highs, the prices are still high enough that a soil test can be beneficial to producers' bottom lines.

Grazing and haying affect nitrogen levels differently, he said.

Cows that graze pastures recycle nitrogen through the soil with their manure and urine. Legumes that grow in grazed pastures also add nitrogen to the soil, he said.

Putting up a hay crop also removes a considerable amount of nutrients, Schnakenberg said.

In addition to soil testing to see how much fertilizer is needed, there are other practices that can save money on nutrients, he said. These include liming the soil, utilizing manure, injecting manure or commercial fertilizer into the soil, using nitrogen stabilizers and splitting applications to reduce fertilizer losses.

All fertilizers are now lower by double digits compared to one year ago. 10-34-0 is 18% less expensive, DAP is 21% lower, MAP is 26% less expensive, potash is 29% lower, UAN32 is 31% less expensive, UAN28 is 33% lower, anhydrous is 40% less expensive and urea is 41% lower 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/….

Anhydrous' average retail fertilizer price dropped below $1,000/ton for the first time since the last week of October 2021 at $995/ton. You can read it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Apr 24-28 2023	827	804	624	595
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Apr 24-28 2023	740	928	426	508

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

Follow him on Twitter @RussQuinnDTN

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