OMAHA (DTN) -- As has been the case in recent weeks, retail fertilizer prices are still on the rise but at a fairly small clip the second week of March 2017, according to fertilizer retailers surveyed by DTN. This marks the eighth consecutive week prices have moved higher.
All eight major fertilizers were higher compared to a month earlier, the fourth week in a row all were higher. While all fertilizers were higher once again, none of the eight were up any noteworthy amount. This is the third consecutive week prices were not up any noticeable amount.
DAP had an average price of $443/ton, MAP $462/ton, potash $337/ton and urea $360/ton. 10-34-0 had an average price of $441/ton, anhydrous $507/ton, UAN28 $247/ton and UAN32 $280/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.31/lb.N, UAN28 $0.44/lb.N and UAN32 $0.44/lb.N.
DTN recently ran a poll question asking, "Retail fertilizer prices have been on a steady increase since the beginning of 2017. Have you pre-purchased any of your fertilizer needs?" The answers included choice 1, "Yes, I did several months ago;" choice 2, "Yes, I have in recent weeks;" choice 3, "No, I have not but I will soon;" and choice 4, "No, I don't ever lock in fertilizer."
With 431 total responses, the majority, 71%, responded with choice 1, "Yes, I did several months ago." Eleven percent said, "Yes, I have in recent weeks," while 9% responded, "No, I have not but I will soon." Eight percent went with choice 4, "No, I don't ever lock in fertilizer."
While it is not surprising the majority of polltakers responded with one of the first three choices, what may be a little surprising is the high percentage of those selections. Those top three answers added together come to 92% of polltakers who said they have already or will soon lock in at least some of their fertilizer needs.
Breaking down the data by state finds all of the nine states with double-digit responses fell in line with the overall numbers of the poll. These states were Iowa, Illinois, Indiana, Minnesota, Missouri, North Dakota, Nebraska, Ohio and South Dakota.
The state with the highest number of respondents who selected choice 1 was Minnesota, with 85%. The remaining 15% selected choice 2.
The state with the lowest number of choice 1 answers was South Dakota, with 65% taking this selection. Eighteen percent selected choice 3, 12% picked choice 2, and 5% picked choice 4.
Retail fertilizers are lower compared to a year earlier. Half of the eight major fertilizer are double digits lower.
10-34-0 is 21% lower from a year ago, both anhydrous and UAN32 are 11% less expensive and UAN28 is 10% less expensive. Potash is 9% less expensive, both MAP and urea is 8% lower, and DAP is 7% compared to year earlier.
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):
|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|
|Feb 13-17 2017||432||450||332||357|
|Mar 13-17 2017||443||462||337||360|
|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|
|Feb 13-17 2017||440||491||240||276|
|Mar 13-17 2017||441||507||247||280|
Russ Quinn can be reached at firstname.lastname@example.org
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