DTN Retail Fertilizer Trends

OMAHA (DTN) -- Some retail fertilizers -- mainly nitrogen fertilizers -- continued to see significant price decreases the fourth week of July 2017, according to fertilizer retailers surveyed by DTN. Once again, prices for all eight of the major fertilizers were lower compared to a month earlier.

Only two fertilizers had significant price drops compared to a month earlier. Anhydrous showed another large decrease in price, down 13% compared to last month. The nitrogen fertilizer had an average price of $423 per ton.

The other fertilizer with a sizeable retail price decline was urea. The nitrogen fertilizer was down 7% compared to last month and had an average price of $308 per ton.

Prices for the remaining six fertilizers were lower compared to last month, but not by significant amounts. DAP had an average price of $434/ton, MAP $462/ton, potash $338/ton, 10-34-0 $425/ton and UAN32 $265/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.34/lb.N, anhydrous $0.26/lb.N, UAN28 $0.41/lb.N and UAN32 $0.41/lb.N.

With retail fertilizer prices continuing to fall, some farmers may be willing to pre-purchase some fertilizer for next year's growing season. But others, such as Adam Casner, who farms near Carrolton, Missouri, prefer to wait until later in the year to start purchasing fertilizer.

Casner told DTN he hasn't given much thought to buying any fertilizer yet, especially with the grain market at its current level. If fertilizer prices stay low, he doesn't see much of a need to start pre-paying, he said.

"Cash is short this time of year on our farm," Casner said. "I don't see the need to currently lock in prices and be paying interest on a line of credit.

Casner said he probably won't get too interested in fertilizer "until the combine has been in the field for a couple weeks" this fall.

Prices for all retail fertilizers are lower compared to a year earlier. Five of the eight major fertilizers are double digits lower.

Both 10-34-0 and anhydrous are now 22% lower from a year ago while both urea and UAN32 are 13% lower and UAN28 is 11% less expensive. Both DAP and MAP are 6% lower while potash is 5% lower.

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
July 25-29 2016	459	492	356	356
Aug 22-26 2016	451	468	330	330
Sept 19-23 2016	443	453	319	323
Oct 17-21 2016	436	452	313	317
Nov 14-18 2016	436	445	315	327
Dec 12-16 2016	433	443	320	333
Jan 9-13 2017	432	441	320	338
Feb 6-10 2017	431	448	330	354
Mar 03-10 2017	436	460	336	361
Apr 3-7 2017	438	466	338	354
May 1-5 2017	436	466	339	351
May 29-Jun 2 2017	436	471	340	339
Jun 26-30 2017	437	470	340	333
Jul 24-28 2017	434	462	338	308
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
July 25-29 2016	543	545	257	304
Aug 22-26 2016	502	515	234	280
Sept 19-23 2016	470	494	225	271
Oct 17-21 2016	453	475	224	265
Nov 14-18 2016	445	466	219	256
Dec 12-16 2016	444	463	219	257
Jan 9-13 2017	437	467	222	258
Feb 6-10 2017	440	485	238	273
Mar 03-10 2017	441	503	246	279
Apr 3-7 2017	441	505	248	280
May 1-5 2017	436	508	247	280
May 29-Jun 2 2017	436	503	248	280
Jun 26-30 2017	435	484	238	268
Jul 24-28 2017	425	423	229	265

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

Follow Russ Quinn on Twitter @RussQuinnDTN

(AG/SK)

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