DTN Retail Fertilizer Trends

Fertilizer Prices Still Mostly Higher

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The price of UAN32 was down, unlike its fellow fertilizers, which were up. (DTN chart)

OMAHA (DTN) -- Average retail fertilizer prices continued to be mostly higher the first full week of April 2020, according to retailers surveyed by DTN. As was the case the previous week, the moves higher were fairly small.

Seven fertilizers were slightly higher in price compared to last month. DAP had an average price of $409/ton, MAP $434/ton, potash $370/ton, urea $382/ton, 10-34-0 $468/ton, anhydrous $492/ton and UAN28 $235/ton.

The one remaining fertilizer had a lower price looking back to a month earlier. Just like the higher-priced fertilizers, this lower-priced fertilizer did not have a large price movement. UAN32 had an average price of $278/ton.

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

Despite all of the uncertainty in the world right now one thing is for sure -- retail fertilizer prices remain historically low. In the April 6 edition of the Agricultural Economic Insight e-newsletter, author David Widmar wrote fertilizer prices are considerably lower in the spring of 2020 compared to the previous year.

"Across the board, lowered fertilizer prices are observed," Widmar wrote. "DAP prices have fallen the most, down 22%. All forms of nitrogen fertilizers were at least 10% lower."

Looking at fertilizer prices over a longer period of time, most fertilizer prices are at or near their lowest price levels in more than a decade.

Costs on a per-acre basis are near a decade low as well, with a 180-70-70 corn fertilizer formula sitting at $95 per acre. This would be a $20 per acre reduction from 2019 spring prices or 17.6% less.

"A lot of bizarre things have and will occur in 2020," he wrote. "One of them will be the perspective of a 97-million-acre corn crop -- one of the largest in modern history -- with some of the lowest fertilizer prices in a decade."

Retail fertilizers are now all lower in price from a year ago. DAP is 19% lower, MAP is 18% less expensive, anhydrous is 17% lower, UAN28 is 13% less expensive, UAN32 is 12% lower, urea is 5% less expensive, potash is 4% lower and 10-34-0 is 3% less expensive 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
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
Sep 23-27, 2019 479 475 384 404
Oct 21-25, 2019 465 473 383 404
Nov 18-22 2019 456 466 381 387
Dec 16-20 2019 444 460 378 377
Jan 13-17 2020 433 444 375 357
Feb 10-14 2020 413 435 373 361
Mar 9-13 2020 407 432 370 377
Apr 6-10 2020 409 434 370 382

LIQUID

Date Range 10-34-0 ANHYD UAN28 UAN32
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
Sep 23-27, 2019 471 511 254 289
Oct 21-25, 2019 471 507 251 291
Nov 18-22 2019 472 496 245 284
Dec 16-20 2019 469 487 239 276
Jan 13-17 2020 470 487 237 275
Feb 10-14 2020 464 490 235 277
Mar 9-13 2020 466 490 235 278
Apr 6-10 2020 468 492 235 278

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

Follow him on Twitter @RussQuinnDTN

(SK/CZ)

Russ Quinn