DTN Retail Fertilizer Trends

OMAHA (DTN) -- Average retail prices for all eight major fertilizers were lower again the first week of August 2017, continuing a trend that has lasted for the past several weeks, according to fertilizer retailers surveyed by DTN.

Only one fertilizer had a significant price drop compared to a month earlier. Anhydrous showed another large decrease in price, down 10% compared to last month. The nitrogen fertilizer had an average price of $418 per ton.

The remaining seven fertilizers had lower prices compared to last month, but none of these fertilizers were down significantly. DAP had an average price of $434/ton, MAP $463/ton, potash $339/ton, urea $311/ton, 10-34-0 $426/ton, UAN28 $227/ton and UAN32 $262/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.34/lb.N, anhydrous $0.25/lb.N, UAN28 $0.40/lb.N and UAN32 $0.41/lb.N.

Despite falling prices, like many farmers, Quentin Bowen has yet to purchase his fertilizer needs for the 2018 growing season. However, the Falls City, Nebraska, farmer told DTN he is thinking about prepaying for half of his anhydrous needs when his local retailer sets a price.

"The norm for us has always been to prepay our nitrogen needs, but the last three years we haven't because we felt the price was too high to lock in, and we would let the nitrogen decision ride longer into the spring," Bowen said. "The current price ranges around here (this year) sounds more reasonable than in the past couple years, so we are talking about it."

Bowen added that a lot of factors have to work themselves out before he makes a decision on buying fertilizer. First and foremost, more rains for his crops are a must on his southeastern Nebraska farm.

"We have missed quite a few big ones in the past two to three weeks," he said. "We are living on 0.20-inch to 0.30-inch showers, and that is stretching thin."

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

Anhydrous is now 24% lower from a year ago while 10-34-0 is 22% less expensive, UAN32 is 15% lower and both urea and UAN28 are 11% less expensive. DAP is 6% lower, MAP is 5% less expensive while potash is 2% 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
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
Apr 10-13 2017	437	466	338	353
May 8-12 2017	437	466	340	351
Jun 5-9 2017	438	469	339	338
Jul 3-7 2017	436	467	339	325
Jul 31-Aug 4 2017	434	463	339	311
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Apr 10-13 2017	441	505	247	280
May 8-12 2017	437	508	247	280
Jun 5-9 2017	435	503	246	278
Jul 3-7 2017	432	462	236	268
Jul 31-Aug 4 2017	426	418	227	262

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

Follow Russ Quinn on Twitter @RussQuinnDTN

(AG/BAS)

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