DTN Retail Fertilizer Trends

OMAHA (DTN) -- The average retail price of all eight major fertilizers declined again the fourth week of August 2019, with nitrogen fertilizers setting the pace, according to retailers surveyed by DTN.

This marks the third week in a row all prices have been lower.

Half of this week's price declines were significant, which DTN considers a price change of 5% or more compared to the prior month. Of those, the price of both anhydrous and UAN32 were down 9% at $528 per ton and $290 per ton, respectively.

MAP was 7% lower than a month earlier, while UAN28 was down 6% from last month. The phosphorus fertilizer (MAP) had an average price of $494/ton, and UAN28 was $256/ton.

The remaining four fertilizers were lower in price than the same week in August, but the price moves were less significant. DAP had an average price of $491/ton, down $3; potash $387/ton, down $6; urea $412/ton, down $16; and 10-34-0 $470/ton, down $16.

On a price per pound of nitrogen basis, the average urea price was at $0.45/lb.N, anhydrous $0.32/lb.N, UAN28 $0.46/lb.N and UAN32 $0.46/lb.N.

As prices have moved lower in recent weeks, the price of MAP is now lower in price than it was at the same time last year, down 4%.

Seven of the eight major fertilizers continue to be higher compared to last year. DAP is 1% higher, 10-34-0 is 5% more expensive, UAN32 is 7% higher, potash is 8% more expensive, both anhydrous and UAN28 are 10% higher, and urea is 13% more expensive compared to last year.

While nitrogen fertilizer prices have sunk lower in recent weeks, the crop is starting to show nitrogen deficiency symptoms in cornfields across the Midwest.

Crops in the past few weeks have begun to show substantial nitrogen deficiency around the R3-R4 stage, according to a report titled "Late-season nitrogen deficiency in corn: What you need to know" by the University of Minnesota Extension in the Minnesota Crop News segment.

Brad Carlson, University of Minnesota Extension educator, wrote that the challenging conditions seen during planting led to less-than-ideal seedbeds, with compacted areas in many fields affecting rooting and a lot of early season moisture that may have prevented deep rooting and potentially led to denitrification.

In addition, a widespread issue this year is compaction caused by manure application when fields were too wet.

"Given this year's circumstances, there are many situations where the need has surpassed the supply," Carlson wrote. "When these conditions develop this late in the season, it is too late to correct the problem."

Research has shown that it is too late in the season to add nitrogen to increase yield, and the soil will continue to mineralize N as long as there are warm temperatures and adequate soil moisture.

If you are concerned about the nitrogen status of your crop, you can use the basal stalk nitrate test. While this test will not tell you what the right amount of nitrogen fertilizer should have been, it will tell you whether the crop had adequate, deficient or excessive amount of nitrogen, according to the report.

To read the entire University of Minnesota Extension report click on the following link: https://blog-crop-news.extension.umn.edu/….

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.

DRY
Date Range	DAP	MAP	POTASH	UREA
Aug 27-31 2018	487	513	357	365
Sep 24-28 2018	494	520	361	385
Oct 22-26 2018	499	518	366	406
Nov 19-23 2018	501	530	368	407
Dec 17-21 2018	508	532	377	407
Jan 14-18 2019	512	534	383	407
Feb 11-15 2019	512	537	385	405
Mar 11-15 2019	510	534	386	402
Apr 8-12 2019	505	532	387	404
May 6-10 2019	501	527	391	418
Jun 3-7 2019	497	527	392	434
Jul 1-5, 2019	498	532	392	432
Jul 29-Aug 2 2019	494	530	393	428
Aug 26-30 2019	491	494	387	412
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Aug 27-31 2018	446	480	233	271
Sep 24-28 2018	449	493	236	278
Oct 22-26 2018	457	499	243	284
Nov 19-23 2018	457	520	246	287
Dec 17-21 2018	457	565	265	304
Jan 14-18 2019	462	580	270	305
Feb 11-15 2019	470	596	271	318
Mar 11-15 2019	469	596	269	318
Apr 8-12 2019	481	592	271	317
May 6-10 2019	487	595	267	310
Jun 3-7 2019	487	591	271	314
Jul 1-5, 2019	482	584	276	317
Jul 29-Aug 2 2019	486	580	272	320
Aug 26-30 2019	470	528	256	290

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

Follow him on Twitter @RussQuinnDTN

(KD/AG)

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