DTN Fertilizer Trends

OMAHA (DTN) -- The prices of all eight major fertilizers are lower for the third consecutive week, according to retail prices tracked by DTN for the fourth week of June 2020.

One fertilizer was significantly lower, which DTN designates as 5% or more, and that was urea. The price of the nitrogen fertilizer dropped $18/ton, or 5%, from last month with an average price of $359/ton.

The remaining seven fertilizers were all just slightly lower. DAP had an average price of $404/ton, down $6; MAP $429/ton, down $5; potash $363/ton, down $2; 10-34-0 $468/ton, down less than $1; anhydrous $463/ton, down $15; UAN28 $233/ton, down $3; and UAN32 $273/ton, down $6.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.28/lb.N, UAN28 $0.42/lb.N and UAN32 $0.43/lb.N.

Fertilizer retailers say the retail price decline coincides with seasonal patterns now that spring fertilizer application season wraps up.

Sam Barta, general agronomy manager at Rio Creek Feed Mill located in Algoma, Wisconsin, said sidedressing operations have pretty much concluded. Farmers in their area of northeast Wisconsin put some urea on their corn acres as well as UAN32.

After an extremely wet 2019 growing season, the area, which sits on the shore of Lake Michigan, has seen a good start to the 2020 growing season, Barta said.

"We had ideal planting weather this spring, but we have seen some rains since," Barta said. "We did have lower parts of fields drown out and some replanting took place."

The price outlook for fertilizers is hard to predict in general and is an especially difficult task during the COVID-19 pandemic, he said. Fertilizer prices did start to climb back in February and March when the pandemic began but they have dropped in recent weeks.

Barta said they saw no issues with fertilizer supplies this spring. He credited this to the fertilizer industry being deemed an essential industry at the beginning of the pandemic.

"I think right now most people are holding out (buying) to see if prices continue to go down or if this is it," he said.

Retail fertilizers are all lower in price from a year ago. Anhydrous is 21% lower, MAP is 19% less expensive, DAP is 18% lower, urea is 16% less expensive, both UAN28 and UAN32 are 14% lower, potash is 8% less expensive and 10-34-0 is 4% 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 prices 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 the cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Dec 9-13 2019	445	463	378	380
Jan 6-10 2020	435	444	375	358
Feb 3-7 2020	413	435	373	361
Mar 2-6 2020	409	432	369	369
Mar 30-Apr 3 2020	408	432	370	383
Apr 27-May 1 2020	413	433	370	386
May 25-29 2020	410	434	365	377
Jun 22-26 2020	404	429	363	359
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Dec 9-13 2019	470	489	241	276
Jan 6-10 2020	471	486	237	272
Feb 3-7 2020	464	490	235	277
Mar 2-6 2020	466	490	235	277
Mar 30-Apr 3 2020	467	492	235	278
Apr 27-May 1 2020	468	492	237	279
May 25-29 2020	468	478	236	279
Jun 22-26 2020	468	463	233	273

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

Follow him on Twitter @RussQuinnDTN

(c) Copyright 2020 DTN, LLC. All rights reserved.