DTN Retail Fertilizer Trends

Most Fertilizer Prices Still Lower Third Week of February

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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Anhydrous prices increased slightly in the last week compared to last month. (DTN chart)

OMAHA (DTN) -- Retail fertilizers tracked by DTN for the third week of February 2020 show mostly lower prices, which has been the case in recent weeks.

A streak of five consecutive weeks of significantly lower fertilizer prices was broken. Five fertilizers were lower in price compared to last month but none were down any substantial amount. DAP had an average price of $410/ton, MAP $435/ton, potash $373/ton, 10-34-0 $464/ton and UAN28 $235/ton.

The remaining three fertilizers had a small price increase looking back to last month. Urea had an average price of $361/ton, anhydrous $490/ton and UAN32 $277/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.30/lb.N, UAN28 $0.42/lb.N and UAN32 $0.43/lb.N.

Producing corn in the Northern Plains and the costs associated with this were the focus of a recent South Dakota State University (SDSU) report titled "Corn Production Costs in the Northern Great Plains." It was written by Alvaro Garcia, former SDSU Extension Agriculture and Natural Resources Program director.

The single highest cost of corn production in the Northern Plains is fertilizer. According to Garcia, Northern Plains farmers pay about 8% less for fertilizer compared to their counterparts in the rest of the U.S. This is likely affected by the use of manure fertilizer in this region, he wrote.

Of all of the crop acres that use manure as a fertilizer in the U.S., corn with more than 9 million acres constitutes nearly 60%. Of the total corn acreage in the U.S., nearly 12% is fertilized with manure, the majority (62%) coming from dairies.

Applying fertilizer only as needed makes perfect sense from an environmental standpoint, Garcia wrote. However, it should not be dismissed from an economic perspective.

"Every time the Northern Great Plains crop farmers reduced the fertilizer costs per acre by $10 in 2014 without negatively affecting yields, their income over operating costs increased by 7.5 cents per bushel," Garcia wrote.

The entire SDSU article can be read at:

https://extension.sdstate.edu/…

Retail fertilizers are now all lower in price from a year ago. DAP is 20% lower, MAP is 19% less expensive, anhydrous is 18% lower, both UAN28 and UAN32 are 13% less expensive, urea is 11% lower, potash is 3% less expensive and 10-34-0 is 1% lower from last year at this time.

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
Feb 18-22 2019 512 536 385 404
Mar 18-22 2019 509 533 386 401
Apr 15-19 2019 504 531 388 404
May 13-17 2019 498 526 392 426
Jun 10-14 2019 497 527 392 434
Jul 8-12, 2019 497 532 392 431
Aug 5-9 2019 495 531 395 428
Sep 2-6 2019 491 488 387 408
Sep 30-Oct 4, 2019 476 474 384 404
Oct 28-Nov 1 2019 464 472 383 402
Nov 25-29 2019 456 465 381 386
Dec 23-27 2019 443 454 377 378
Jan 20-24 2020 413 435 374 357
Feb 17-21 2020 410 435 373 361
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Feb 18-22 2019 470 596 271 317
Mar 18-22 2019 470 597 270 318
Apr 15-19 2019 481 594 270 317
May 13-17 2019 487 595 267 311
Jun 10-14 2019 487 591 271 314
Jul 8-12, 2019 485 585 276 317
Aug 5-9 2019 491 580 272 320
Sep 2-6 2019 473 522 255 290
Sep 30-Oct 4, 2019 470 511 253 289
Oct 28-Nov 1 2019 468 503 251 291
Nov 25-29 2019 472 497 245 277
Dec 23-27 2019 469 488 240 276
Jan 20-24 2020 470 487 237 275
Feb 17-21 2020 464 490 235 277

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

Follow him on Twitter @RussQuinnDTN

(SK\CZ)

Russ Quinn