DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the second week of January 2024 continue to show mostly declines compared to last month.

For the third consecutive week, six of the eight major fertilizers were lower in price compared to last month, while the remaining two fertilizers were slightly higher. DTN designates a significant move as anything 5% or more.

Only two fertilizers had notable price changes compared to last month. Anhydrous was down 9% compared to last month at an average price of $776/ton. UAN32 was 5% less expensive at an average price of $391/ton.

The remaining four fertilizers were down just slightly from the prior month. MAP had an average price of $807/ton, potash $510/ton, urea $526/ton and UAN28 $336/ton.

Two fertilizers, meanwhile, were just slightly higher in price compared to last month. DAP had an average price of $726/ton and 10-34-0 $600/ton.

Starter fertilizer, 10-34-0, is back at the $600/ton level for the first time since the second week of November 2023. That week the price was $613/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.57/lb.N, anhydrous $0.47/lb.N, UAN28 $0.60/lb.N and UAN32 $0.61/lb.N.

A Saskatchewan-based business is developing a "living lab" to learn about using prairie biomass to generate heat for industry, according to an article at sasktoday.ca. This project is targeted at the potash industry, aiming to use locally produced flax straw to generate low carbon bioheat, thus reducing the amount of greenhouse gases (GHG) produced by potash mine sites.

Saskatchewan Polytech, working with Prairie Clean Energy, will explore this possibility at an agricultural site near Moose Jaw, Saskatchewan, Canada. The project will draw on a $1.1 million (Canadian dollars) grant that Prairie Clean Energy received from the Mining Innovation Commercialization Accelerator (MICA) Network for its GHG emissions reduction project.

"Agricultural waste like flax straw would normally be burned in fields," said Dr. Robin Smith, Saskatchewan Polytechnic director. "Processing flax straw into low-carbon pellets for biomass boilers exemplifies principles of the circular economy: reusing, recycling, and upcycling of materials and resources to minimize waste and promote sustainability."

The primary objective of this project is to assist Saskatchewan's mining sector in adopting biomass as a sustainable heating source for large buildings. It aims to provide a demonstration of biomass boiler operation and establish a platform for educational and learning experiences within the industry, according to the article.

All fertilizer prices except one are now lower by double-digits compared to one year ago. MAP is 8% lower, DAP is 16% less expensive, 10-34-0 is 20% lower, urea is 28% less expensive, potash is 31% lower, anhydrous is 38% less expensive and both UAN28 and UAN32 are 40% 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/….

A recent report showed significant progress is being made in limiting fertilizer runoff into the Gulf of Mexico, according to a press release from The Fertilizer Institute. You can read about it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
Jan 9-Jan 13 2023	868	875	742	732
Feb 6-Feb 10 2023	840	857	694	693
Mar 6-Mar 10 2023	825	823	657	643
Apr 3-7 2023	818	809	642	625
May 1-5 2023	826	805	623	599
May 29-Jun 2 2023	824	832	620	622
June 26-30 2023	825	829	620	616
July 24-28 2023	795	791	594	581
Aug 21-25 2023	735	764	557	575
Sep 18-22 2023	702	757	501	566
Oct 16-20 2023	709	791	504	574
Nov 13-27 2023	717	811	511	574
Dec 11-15 2023	713	819	517	540
Jan 8-12 2024	726	807	510	526
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Jan 9-Jan 13 2023	754	1245	563	650
Feb 6-Feb 10 2023	755	1220	499	579
Mar 6-Mar 10 2023	740	1059	436	522
Apr 3-7 2023	740	1002	423	507
May 1-5 2023	739	926	424	507
May 29-Jun 2 2023	739	791	413	478
June 26-30 2023	731	753	396	468
July 24-28 2023	715	691	383	442
Aug 21-25 2023	698	622	355	399
Sep 18-22 2023	610	763	352	405
Oct 16-20 2023	612	809	356	418
Nov 13-27 2023	613	843	361	415
Dec 11-15 2023	595	851	339	409
Jan 8-12 2024	600	776	336	391

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

Follow him on X, formerly known as Twitter, @RussQuinnDTN

(c) Copyright 2024 DTN, LLC. All rights reserved.