OMAHA (DTN) -- Average retail fertilizer prices continued to move lower the second week of October, though the rate of decline slowed from what was seen in previous weeks, according to fertilizer retailers surveyed by DTN. While all eight of the major fertilizer are lower compared to a month earlier, the string of nine consecutive weeks with significantly lower prices was broken as no products were down by any considerable amount.
DAP averaged $438 per ton, MAP $452/ton, potash $313/ton and urea $316/ton. 10-34-0 averaged $454/ton, anhydrous $475/ton, UAN28 $224/ton and UAN32 $264/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.34/lb.N, anhydrous $0.29/lb.N, UAN28 $0.40/lb.N and UAN32 $0.41/lb.N.
With harvest continuing, many farmers look forward to the next task at hand once harvest is done, and for some that includes applying fertilizer. For others, however, the next fertilizer application season is not until next spring.
Mark Rohrich, who operates Maverick Ag, a full-service agronomy center, and farms near Ashley, North Dakota, said very few farmers in his home area of south-central North Dakota near the South Dakota border apply much fertilizer after harvest.
"I haven't heard of much interest in fertilizer right now," Rohrich told DTN.
While the application season is still far off for most of his customers, Rohrich said he believes another factor was keeping interest in pre-purchasing fertilizer at bay. Crop farmers prefer to wait until after harvest is over and see what yields actually are before they make any cash-flow or crop decisions for next year, he said.
As for where the price of fertilizer will be when farmers in the region are ready to purchase some nutrients, Rohrich said he believes one single factor will affect fertilizer prices the most.
"I think prices of fertilizer will continue to reflect a bit off of the direction of the futures market," he said.
Retail fertilizers remain lower compared to a year earlier. All fertilizers are now double digits lower.
Both DAP and MAP are now down 20%, and both 10-34-0 and UAN32 are 22% lower. Both urea and UAN28 are 24% less expensive, anhydrous is 26% lower and potash is 29% less expensive compared to a year prior.
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):
|Oct 12-16 2015||547||564||440||418|
|Nov 9-13 2015||547||561||426||405|
|Dec 7-11 2015||534||555||417||397|
|Jan 4-8 2016||495||521||392||381|
|Feb 1-5 2016||488||502||381||370|
|Feb 29-Mar 4 2016||476||492||373||374|
|Mar 28-Apr 1 2016||478||501||370||386|
|Apr 25-29 2016||476||502||366||386|
|May 23-27 2016||476||501||365||381|
|June 20-24 2016||470||495||358||366|
|July 18-22 2016||464||493||357||357|
|Aug 15-19 2016||452||471||333||337|
|Sept 12-16 2016||444||458||320||324|
|Oct 10-14 2016||438||452||313||316|
|Oct 12-16 2015||584||640||295||338|
|Nov 9-13 2015||581||631||289||332|
|Dec 7-11 2015||575||625||284||330|
|Jan 4-8 2016||572||582||273||316|
|Feb 1-5 2016||549||555||263||305|
|Feb 29-Mar 4 2016||566||537||260||309|
|Mar 28-Apr 1 2016||561||580||268||315|
|Apr 25-29 2016||560||587||274||321|
|May 23-27 2016||560||587||274||321|
|June 20-24 2016||554||567||265||305|
|July 18-22 2016||546||546||260||304|
|Aug 15-19 2016||513||516||238||285|
|Sept 12-16 2016||474||496||233||272|
|Oct 10-14 2016||454||475||224||264|
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