OMAHA (DTN) -- Retail fertilizer prices continued to grind lower the second week of November 2019, following four months of similar price moves, according to retailers surveyed by DTN.
Seven of the eight major fertilizers were lower in price compared to the previous month. While none were down a significant amount, which DTN considers a price change of 5% or more, anhydrous prices dropped below $500 per ton for the first time in more than a year.
DAP had an average price of $457 per ton, down $8; MAP $465/ton, down $7; potash $382/ton, down less than $1; urea $388/ton, down $14; anhydrous $496/ton, down $11; UAN28 $246/ton, down $7; and UAN32 $284/ton, down $5.
The remaining fertilizer, 10-34-0, had an average price of $473/ton, a $2/ton increase from last month.
On a price per pound of nitrogen basis, the average urea price was at $0.42/lb.N, anhydrous $0.30/lb.N, UAN28 $0.44/lb.N and UAN32 $0.44/lb.N.
With retail fertilizer prices falling in recent months, I thought it would be interesting to take look back to the retail price six months ago. We take a look back 12 months at the end of the column every week, and I thought maybe splitting this number in half would create some interesting data.
Six months ago takes us back to the second week of May, right in the heart of spring planting season. Anhydrous had the largest price difference compared to the current price of $496/ton. That is down $99/ton from May when it was at $595/ton.
It's really not a surprise anhydrous would have the largest decrease in price since it's the fertilizer that tends to change the most as demand strengthens and weakens.
The next fertilizer with the largest difference was MAP. The phosphorous fertilizer had a retail price of $526/ton in May and $465/ton last week, so it is now down $61/ton. DAP had an average price of $498/ton back in May and $457/ton this week, a drop of $41/ton.
Urea's average price last week was $388/ton and in May was $426/ton, a drop of $38/ton. UAN32 was at $284/ton last week and $311/ton back in May, a decline of $27/ton, while UAN28 was at $246/ton last week and $267/ton back in May, down $21/ton.
The fertilizer with the smallest price change over this six-month range was potash. Last week, the average price was $382/ton and in May it was at $392/ton, a drop of just $10/ton.
Like anhydrous having the largest price decline, I would have bet that potash (or maybe 10-34-0) would have had the smallest drop. These two fertilizers' prices really don't move much.
Retail fertilizers are mixed in price from a year ago. MAP is now 12% less expensive, DAP is 9% lower, urea is 5% less expensive, anhydrous is 4% lower and UAN32 is 1% less expensive from last year at this time. UAN28 is 1% higher, 10-34-0 is 3% more expensive and potash is 4% higher 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.
|Nov 12-16 2018||500||530||368||407|
|Dec 10-14 2018||505||533||375||407|
|Jan 7-11 2019||508||533||381||407|
|Feb 4-8 2019||511||536||385||408|
|Mar 4-8 2019||510||534||386||403|
|Apr 1-5 2019||509||533||386||405|
|Apr 29-May 3 2019||498||528||390||413|
|May 27-31 2019||497||527||392||430|
|Jun 24-28, 2019||495||531||392||429|
|Jul 22-26 2019||495||531||394||430|
|Aug 19-23 2019||491||495||387||413|
|Sep 16-20 2019||480||478||384||404|
|Oct 14-18, 2019||465||472||382||402|
|Nov 11-15 2019||457||465||382||388|
|Nov 12-16 2018||457||519||245||287|
|Dec 10-14 2018||455||552||261||302|
|Jan 7-11 2019||461||573||267||304|
|Feb 4-8 2019||470||596||271||318|
|Mar 4-8 2019||470||596||270||317|
|Apr 1-5 2019||474||599||272||319|
|Apr 29-May 3 2019||487||595||268||315|
|May 27-31 2019||487||590||270||314|
|Jun 24-28, 2019||487||584||269||318|
|Jul 22-26 2019||485||582||272||320|
|Aug 19-23 2019||475||530||257||291|
|Sep 16-20 2019||471||509||254||289|
|Oct 14-18, 2019||471||507||253||289|
|Nov 11-15 2019||473||496||246||284|
Russ Quinn can be reached at firstname.lastname@example.org
Follow him on Twitter @RussQuinnDTN
© Copyright 2019 DTN/The Progressive Farmer. All rights reserved.