OMAHA (DTN) -- Retail fertilizer prices continued to be mixed the third week of August 2020, with six prices falling and two increasing, one of them significantly, according to retailers surveyed by DTN.
Of the six fertilizers that were lower in price compared to last month, none were down a noteworthy amount, which DTN designates as 5% or more. Potash has an average price of $353 per ton, down $7; urea $356/ton, down $2; 10-34-0 $465/ton, down $1; anhydrous $445/ton, down $5; UAN28 $220/ton, down $5 and UAN32 $259/ton, down $4.
DAP and MAP prices were both higher than last month, with DAP price increasing $20/ton, or 5%, to $427/ton. MAP was $434/ton, up $6 from last month.
On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.27/lb.N, UAN28 $0.39/lb.N and UAN32 $0.40/lb.N.
As summer is quickly turning to fall and retail fertilizer prices are at multiple-year lows, it is natural farmers might consider pre-purchasing at least some of their fertilizer needs for the fall or spring -- or both. Some producers utilize this business practice while others do not.
One farmer who already locked in a portion of his fertilizer needs for the 2021 growing season is Jay Culver, who farms near Iroquois, South Dakota.
He has already purchased both nitrogen (UAN28 and dry) and phosphorous. Late summer is when he tries to fill up on UAN28, and this year, he locked in dry nitrogen fertilizer for next spring as well.
"Compared to local historical prices, it's just hard to think there is much for downside risk right now," Culver told DTN. "Also, a local provider had a nice offer as far as payment structure."
Culver said he purchased phosphorus since these prices are as low as they have been for quite some time. He was finally able to plant some additional acres this year since moisture let up on his east-central South Dakota this spring, he said.
Retail fertilizer prices continue to be considerably lower in price from a year ago. Anhydrous is 16% lower, both urea and UAN28 are 14% less expensive, DAP is 13% lower, MAP is 12% less expensive, UAN32 is 11% lower, potash is 9% less expensive and 10-34-0 is 2% lower than 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.
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|Sep 16-20 2019||480||478||384||404|
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