DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continued to trend higher the fourth week of February 2018, according to retailers tracked by DTN.

All eight of the major fertilizers again are higher compared to last month, but only one fertilizer was up a significant amount. Nitrogen fertilizer UAN32 was 7% more expensive compared to month-earlier levels at an average price of $279/ton.

The remaining seven fertilizers were all higher compared to the prior month but none were up a notable amount. DAP had an average price of $461/ton; MAP $497/ton; potash $346/ton; urea $361/ton; 10-34-0 $416/ton; anhydrous $496/ton; and UAN28 $233/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N; anhydrous $0.30/lb.N; UAN28 $0.42/lb.N; and UAN32 $0.44/lb.N.

As retail fertilizer prices continue to climb, farmers are taking a long look at their plans for the rapidly approaching 2018 growing season. The decision to apply fertilizer last fall and/or pre-purchase fertilizer for this spring looks to have been a good decision.

Mike Cooprider, a corn and soybean farmer from Jasonville, Indiana, said he applied both DAP and potash last fall. In addition, he also put down two tons per acre of turkey litter for which he paid $22 to $24 an acre.

"We just signed a contract from another turkey grower for his manure at much lower price," Cooprider told DTN.

As for this spring, he pre-paid for anhydrous at $500/ton for sidedress operations as well as some UAN32 and ammonium polyphosphate (11-37-0).

Cooprider believes in tiling on his south-central Indiana farm. He owns his own tile plow, does his own tiling and he didn't get as much fall tillage done last fall as he wanted to plow in more field tile while the ground was still dry.

"Tiling, in my opinion, results in more bushels per acre for our farm consistently because earlier planting equals better yields and in a wet year the roots can breathe sooner," he said.

The recent rally in ag commodities is "a blessing" to sell more unpriced bushels both old and new crop but this rally will also probably push fertilizer even higher, Cooprider said.

Four fertilizers are now higher compared to last year with prices pushing up in recent months. UAN32 is now 1% more expensive; potash is 3% higher; DAP is 6% more expensive; and MAP is 8% higher than last year.

The remaining four fertilizers are lower in price compared to a year prior. Both anhydrous and urea are 1% less expensive while both UAN28 and UAN32 are 5% lower looking back a year.

DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.

DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.

Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.

DTN's average of retail fertilizer prices from a month earlier ($ per ton):

DRY
Date Range	DAP	MAP	POTASH	UREA
Feb 27-Mar 03 2017	436	458	335	361
Mar 27-31 2017	438	465	338	356
Apr 24-28 2017	437	466	338	352
May 22-26 2017	436	471	340	343
Jun 19-23 2017	436	470	340	333
Jul 17-21 2017	435	464	339	309
Aug 14-18 2017	434	460	338	305
Sep 11-15 2017	431	456	336	310
Oct 9-13 2017	432	453	347	325
Nov 6-10 2017	434	459	341	338
Dec 4-8 2017	438	471	343	344
Jan 1-5 2018	452	490	345	350
Jan 29-Feb 2 2018	458	492	344	355
Feb 26-Mar 2 2018	461	497	346	361
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Feb 27-Mar 03 2017	440	502	246	279
Mar 27-31 2017	441	508	248	279
Apr 24-28 2017	437	509	247	280
May 22-26 2017	436	503	249	280
Jun 19-23 2017	435	497	243	273
Jul 17-21 2017	425	425	229	265
Aug 14-18 2017	419	419	216	251
Sep 11-15 2017	416	412	210	248
Oct 9-13 2017	413	397	206	253
Nov 6-10 2017	403	409	216	272
Dec 4-8 2017	404	424	215	251
Jan 1-5 2018	409	474	219	256
Jan 29-Feb 2 2018	415	491	227	261
Feb 26-Mar 2 2018	416	496	233	279

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

Follow him on Twitter @RussQuinnDTN

(SK/CZ)

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