OMAHA (DTN) -- Fertilizer prices continued to work lower the first week of July 2016, according to retailers tracked by DTN. While prices are lower, no fertilizer value moved significantly lower, thus snapping a three-week run of notable price drops.
All eight of the major fertilizer were lower in price compared to a previous month but, again, none were down significantly. DAP had an average price of $469/ton, MAP $496/ton, potash $359/ton and urea at $361/ton. 10-34-0 was at $546/ton, anhydrous $554/ton, UAN28 $261/ton and UAN32 $304/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.34/lb.N, UAN28 $0.47/lb.N and UAN32 $0.48/lb.N.
While the 2016 growing season is nowhere near complete, some producers have already begun to focus on fertilizer needs for the 2017 crop. Some have already locked in prices for the next crop.
One Illinois farmer, who asked that his name not be used, already has locked in potash prices for the next growing season. He has pre-ordered about two-thirds of his potash needs for the upcoming crop.
"Potash is at the lows from the last six or seven years," he said. "At this level it is very profitable for us, so we locked in about a month ago."
The farmer said he locked in potash for around $225 per ton. Last year it was closer to $300 to $325 per ton in his area.
He will lock in more potash "soon," he said. He also estimated he would be willing to lock in some of his DAP needs fairly soon.
Retail fertilizer prices are lower compared to a year earlier. All fertilizer prices are now double-digits lower.
10-34-0 is 15% lower while both MAP and UAN32 are both 17% less expensive and DAP is 18% lower. Both anhydrous and UAN28 are 20% lower while urea is 23% lower and potash is 27% less expensive compared to last year.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to November 2008 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
DTN's average of retail fertilizer prices from a month earlier ($ per ton):
|July 6-10 2015||570||596||489||470|
|Aug 3-7 2015||567||591||482||464|
|Aug 31-Sept 4 2015||564||583||471||439|
|Sept 28-Oct 2 2015||561||573||450||424|
|Oct 26-30 2015||546||562||431||409|
|Nov 23-27 2015||543||556||422||397|
|Dec 21-25 2015||519||541||408||390|
|Jan 18-22 2016||495||520||392||381|
|Feb 15-19 2016||477||496||375||370|
|Mar 14-18 2016||477||499||369||390|
|Apr 11-15 2016||480||504||367||388|
|May 9-13 2016||476||502||366||385|
|June 6-10 2016||470||498||359||370|
|July 4-8 2016||469||496||359||361|
|July 6-10 2015||640||695||327||366|
|Aug 3-7 2015||628||677||318||354|
|Aug 31-Sept 4 2015||602||659||304||349|
|Sept 28-Oct 2 2015||594||644||295||342|
|Oct 26-30 2015||583||638||292||334|
|Nov 23-27 2015||580||624||286||325|
|Dec 21-25 2015||571||608||277||330|
|Jan 18-22 2016||571||581||272||319|
|Feb 15-19 2016||565||538||259||309|
|Mar 14-18 2016||560||566||276||312|
|Apr 11-15 2016||560||587||273||318|
|May 9-13 2016||561||588||274||321|
|June 6-10 2016||556||569||267||310|
|July 4-8 2016||546||554||261||304|
Russ Quinn can be reached at email@example.com
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