OMAHA (DTN) -- Retail fertilizer prices continue to be mostly higher, according to prices tracked by DTN for the third week of May 2018. Like off and on in recent weeks, there are some possible signs that fertilizer prices may be weakening.
Five of the eight major fertilizer were once again higher in price compared to last month, although none were up a considerable amount. MAP had an average price of $504/ton, potash $354/ton, 10-34-0 $439/ton and UAN28 $241/ton.
Three fertilizers were slightly lower in price compared to the previous month. DAP had an average price of $483/ton, urea $364/ton and UAN32 $276/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.40/lb.N, anhydrous $0.31/lb.N, UAN28 $0.43/lb.N and UAN32 $0.43/lb.N.
With a majority of spring planted crop already in the ground -- 92% of the corn nationally, and 77% of soybeans, as of May 27, according to the most recent USDA weekly Crop Progress report -- a logical assumption might be fertilizer prices would drop in prices because of less demand. While this could still happen, most fertilizers do not appear set to decline in price anytime soon.
Mark Rohrich, who operates Maverick Ag, a full-service agronomy company, and farms near Ashley, North Dakota, told DTN he hasn't heard much about what possible direction fertilizer prices could head in the future. Retailers and farmers in the Northern Plains are still busy seeding, he added.
"I think that pressure has kept the (fertilizer) price there, as well as supply and logistics," Rohrich told DTN.
Keeping fertilizer moving out to fields has been a major challenge during the busy spring season in North Dakota.
There has been reports of spot fertilizer outages in some part of the state, he said. Retailers have had a difficult time replacing tons on hand before it was sent out to the fields.
In response, North Dakota Governor Doug Burgum signed an emergency executive order on May 10 granting a waiver of hours of service for drivers of commercial vehicles transporting fertilizers. State Agriculture Commissioner Doug Goehring requested the waiver to ensure that sufficient fertilizer resources for farmers and the waiver on fertilizer lasts through May 30, according to a press release from the office of the governor.
"Electric Logging Device (ELD) definitely put a cramp on rush delivery," he said.
Six of the eight major fertilizers are now higher compared to last year, with prices pushing higher in recent months. Both 10-34-0 and anhydrous are now up 1%, potash is 4% higher, urea is 6% more expensive, MAP is 7% higher and DAP is 11% more expensive compared to last year.
The remaining two fertilizers are lower in price compared to a year prior. UAN32 is 1% lower, while UAN28 is 3% less expensive.
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 include 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):
|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|
|Sep 11-15 2017||431||456||336||310|
|Oct 9-13 2017||432||453||347||325|
|Nov 6-10 2017||434||459||341||338|
|Dec 4-8 2017||438||471||343||344|
|Jan 1-5 2018||452||490||345||350|
|Jan 29-Feb 2 2018||458||492||344||355|
|Feb 26-Mar 2 2018||461||497||346||361|
|Mar 26-30 2018||470||506||350||370|
|Apr 23-27 2018||485||504||353||367|
|May 21-25 2018||483||504||354||364|
|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|
|Sep 11-15 2017||416||412||210||248|
|Oct 9-13 2017||413||397||206||253|
|Nov 6-10 2017||403||409||216||272|
|Dec 4-8 2017||404||424||215||251|
|Jan 1-5 2018||409||474||219||256|
|Jan 29-Feb 2 2018||415||491||227||261|
|Feb 26-Mar 2 2018||416||496||233||279|
|Mar 26-30 2018||425||507||237||272|
|Apr 23-27 2018||431||507||241||277|
|May 21-25 2018||439||504||241||276|
Russ Quinn can be reached at email@example.com
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