DTN Retail Fertilizer Trends

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)

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