DTN Retail Fertilizer Trends

OMAHA (DTN) -- Average retail fertilizer prices continued mostly higher the last week of July 2018, according to retailers surveyed by DTN. However, for the first time in several weeks, multiple fertilizers did show slightly lower prices compared to a month ago.

Five of the eight major fertilizers were slightly higher than last month. DAP had an average price of $488 per ton, MAP $505/ton, potash $355/ton, urea $366/ton and 10-34-0 $443/ton.

Three fertilizers were slightly lower from the previous month. Anhydrous had an average price of $498 per ton, UAN28 $242/ton and UAN32 $279/ton.

One interesting thing to note is the price of anhydrous. The nitrogen fertilizer's price of $498 per ton was under $500 per ton for the first time since the first week of March 2018 when the price was $499 per 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 $0.44/lb.N.

Since midsummer is when some farmers begin to lock in their fertilizer prices for the upcoming growing season, we thought it would be interesting to pick the brains of a few farmers to see what their nutrient-buying strategies are with fertilizer prices where they are currently. Not surprisingly, most are holding off locking in fertilizer at this time.

Joel Grams grows corn and soybeans near Minden, Nebraska. He said since he doesn't usually apply fertilizer in the fall, he hasn't thought much about his nutrient needs for the 2019 growing season, at least not yet.

"I haven't done anything with fertilizer, or even given it much thought yet," Grams told DTN.

Grams said he remains busy focusing on getting his 2018 crop to harvest on his south-central Nebraska farm.

Looking ahead to the next growing season, he said he has paid for some of his fertilizer needs in late winter in recent years. He locks in a price at that time and then pays some money down on the contract. Grams said he'll most likely do the same thing for the upcoming 2019 growing season.

All eight of the major fertilizers are now higher compared to last year with prices shifting higher in recent months. 10-34-0 is 4% higher, potash is 5% more expensive, UAN32 is 6% higher, UAN28 is 7% more expensive, MAP is 9% higher, DAP is 12% more expensive, urea is 18% higher and anhydrous is 19% more expensive compared to last year.

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
Jul 31-Aug 4 2017	434	463	339	311
Aug 28-Sept 1 2017	433	457	338	303
Sep 15-29 2017	432	453	348	321
Oct 23-27 2017	431	453	347	325
Nov 20-24 2017	435	460	342	338
Dec 18-22 2017	445	485	344	348
Jan 15-19 2018	456	491	345	355
Feb 12-16 2018	457	495	345	357
Mar 12-16 2018	466	503	350	368
Apr 9-13 2018	482	504	353	369
May 7-11 2018	483	505	354	366
Jun 4-8 2018	484	505	354	364
Jul 2-6 2018	485	504	354	366
Jul 30- Aug 3 2018	488	505	355	366
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Jul 31-Aug 4 2017	426	418	227	262
Aug 28-Sept 1 2017	418	417	215	248
Sep 15-29 2017	413	396	208	243
Oct 23-27 2017	407	393	205	262
Nov 20-24 2017	403	410	216	272
Dec 18-22 2017	405	461	218	254
Jan 15-19 2018	407	485	226	260
Feb 12-16 2018	415	492	230	264
Mar 12-16 2018	421	503	237	282
Apr 9-13 2018	427	510	241	275
May 7-11 2018	431	512	241	276
Jun 4-8 2018	440	503	241	276
Jul 2-6 2018	443	505	242	279
Jul 30- Aug 3 2018	443	498	242	279

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

Follow him on Twitter @RussQuinnDTN

(AG/CZ)

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