OMAHA (DTN) -- Retail fertilizer prices continued their downward trend the third week of August 2017, according to fertilizer retailers surveyed by DTN. All eight of the major fertilizers had lower prices compared to a month earlier.
Only two fertilizers had a significant price drop compared to a month earlier. UAN28 is down 6% compared to the previous month, while UAN32 was down 5%. UAN28 has an average price of $216/ton and UAN32 was at $251/ton.
The remaining six fertilizers had lower prices compared to last month, but none of the declines were significant. DAP had an average price of $434/ton, MAP $460/ton, potash $338/ton, urea $305/ton, 10-34-0 $419/ton and anhydrous $419/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.33/lb.N, anhydrous $0.26/lb.N, UAN28 $0.39/lb.N and UAN32 $0.39/lb.N.
Despite the continued decline in fertilizer prices, one Iowa farmer -- like most farmers interviewed by DTN for this column in recent weeks -- is going to wait to purchase his fertilizer needs. Because of a lack of storage for fertilizer on his farm and the fact that most retailers in his area are cash and carry, this farmer (who wished to remain anonymous) is waiting to buy fertilizer.
"I would love to price some fertilizer, but we have been dragging our feet pricing crop, so that eliminates pricing fertilizer," the farmer said.
In addition to these factors, the Iowa farmer said he wants to see how his 100% liquid fertilizer trial turns out before he decides what form of fertilizer to buy for the next growing season.
In this trial, anhydrous was applied in the spring, followed by in-furrow fertilizer at planting and then a foliar application at V6. The farmer is attempting to try to eliminate being dependent on custom applicators and find a more efficient way to deliver what fertilizer is needed, when it is needed.
"Next year, I would like to try another foliar or under canopy spray a week before tassel, but we will see how this year works first," he said.
All retail fertilizers are lower compared to a year earlier. Three of the eight major fertilizers are double digits lower.
Anhydrous is now 19% lower from a year ago while 10-34-0 is 18% less expensive and UAN32 is 12% lower. Both urea and UAN28 are 9% less expensive, DAP is 4% lower, MAP is 3% 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):
|Aug 15-19 2016||452||471||333||337|
|Sept 12-16 2016||444||458||320||324|
|Oct 10-14 2016||438||452||313||316|
|Nov 7-11 2016||429||449||314||323|
|Dec 5-9 2016||434||443||318||333|
|Jan 2-6 2017||431||442||322||339|
|Jan 30-Feb 3 2017||430||448||329||353|
|Feb 27-Mar 03 2017||436||458||335||361|
|Mar 27-31 2017||438||465||338||356|
|Apr 24-28 2017||437||466||338||352|
|May 22-26 2017||436||471||340||343|
|Jun 19-23 2017||436||470||340||333|
|Jul 17-21 2017||435||464||339||309|
|Aug 14-18 2017||434||460||338||305|
|Aug 15-19 2016||513||516||238||285|
|Sept 12-16 2016||474||496||233||272|
|Oct 10-14 2016||454||475||224||264|
|Nov 7-11 2016||447||468||217||256|
|Dec 5-9 2016||445||463||219||257|
|Jan 2-6 2017||436||465||218||255|
|Jan 30-Feb 3 2017||439||482||236||270|
|Feb 27-Mar 03 2017||440||502||246||279|
|Mar 27-31 2017||441||508||248||279|
|Apr 24-28 2017||437||509||247||280|
|May 22-26 2017||436||503||249||280|
|Jun 19-23 2017||435||497||243||273|
|Jul 17-21 2017||425||425||229||265|
|Aug 14-18 2017||419||419||216||251|
Russ Quinn can be reached at firstname.lastname@example.org
Follow Russ Quinn on Twitter @RussQuinnDTN
Copyright 2017 DTN/The Progressive Farmer. All rights reserved.