DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continue to be relatively stable the third week of January 2017, according to retailers tracked by DTN. But, as was the case last week, more fertilizers are now trending higher than lower.

Six of the eight major fertilizers edged higher, although none moved by any considerable amount. MAP averaged $443 per ton, potash $324/ton, urea $346/ton, anhydrous $478/ton, UAN28 $235/ton and UAN32 $267/ton.

The remaining two fertilizers were slightly lower, but none of these moves to the low side were noteworthy. DAP averaged $430/ton and 10-34-0 was $437/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.38/lb.N, anhydrous $0.29/lb.N, UAN28 $0.42/lb.N and UAN32 $0.42/lb.N.

As crop margins remain tight, farmers continue to try to become as efficient as possible, especially when it comes to their fertilizer needs. One such farmer is Jerry Demmer, who farms near Clarks Grove, Minnesota.

Demmer has been spending this winter analyzing inputs with these lower commodity prices. While he has already applied some N this fall, he will apply less nitrogen overall and put the nutrient on at three different application times.

"I have talked to my agronomist that works at the local co-op about farmers and fertilizer inputs, and he said they are not cutting back as one would think; they know they must maximize yield but be careful on what works and what does not," Demmer told DTN.

Demmer's home region of south-central Minnesota had an extremely wet September before harvest began. With all of the rain right before harvest, he thought maybe he would not get a window to do any fall fieldwork. However, the weather cooperated and he was able to get tillage completed as well as fertilizer applied, specifically both anhydrous and phosphorus (P) and potash (K).

"I think most farmers in this area apply P/K in the fall and try to get their nitrogen applied (in the fall) to beat the rush in the spring," he said.

Retail fertilizers are lower compared to a year earlier.

Urea is now down 9%, DAP is 13% less expensive, MAP is 15% lower and potash is 17% less expensive, UAN28 is down 14% and UAN32 is 16% lower. Anhydrous is 20% less expensive and 10-34-0 is 24% lower 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):

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Aug 1-5 2016	459	488	346	349
Aug 29-Sept 2 2016	449	464	327	326
Sept 26-30 2016	440	458	317	322
Oct 24-28 2016	436	451	313	317
Nov 21-25 2016	436	445	316	328
Dec 19-23 2016	432	437	321	336
Jan 16-20 2017	430	443	324	346
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Aug 1-5 2016	548	552	254	307
Aug 29-Sept 2 2016	493	509	233	275
Sept 26-30 2016	465	486	223	271
Oct 24-28 2016	452	472	224	262
Nov 21-25 2016	445	465	218	256
Dec 19-23 2016	442	468	217	255
Jan 16-20 2017	437	478	235	267

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

Follow Russ Quinn on Twitter @RussQuinnDTN

(MZT/AG)

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