OMAHA (DTN) -- For the fourth week in a row, average retail prices for five of the eight major fertilizers tracked by DTN were lower, while prices for the remaining three nutrients were higher.
Once again, no fertilizer's price was up or down a significant amount, which DTN designates as 5% or more.
For the last week of September, the five fertilizers that had lower prices were potash with an average price of $338 per ton, down $10; 10-34-0 $457/ton, down $2; anhydrous $424/ton, down $12; UAN28 $212/ton, down $4; and UAN32 $250/ton, down $4.
The three fertilizers that were slightly higher include DAP with an average price of $439/ton, up $8; MAP $459/ton, up $17; and urea $362/ton, up $1.
On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.26/lb.N, UAN28 $0.38/lb.N and UAN32 $0.39/lb.N.
The COVID-19 pandemic has affected the global fertilizer market in numerous ways, one of them being foreign currency volatility. This makes fertilizer either more affordable or more expensive depending on what a nation's currency is valued at.
Humphrey Knight, CRU senior analyst for potash, spoke last week in The Fertilizer Institute (TFI) webinar titled "U.S. Fertilizer Jobs & the Impact of COVID-19 on the Fertilizer Market."
Knight said one interesting example of currency volatility is Brazil. The Brazilian real's recent massive depreciation against the U.S. dollar has been an economic boost for the country's ag sector. Fertilizer imports are up sharply so far in 2020, aided by lower prices.
Knight said Brazil is a major fertilizer importer, with many U.S. producers selling fertilizer into the South American country.
The country's potash imports from January through August 2020 topped out at 7.3 million tons, which was 11% higher year-on-year. MAP imports came in at 3.1 million tons during the same period. This was an increase of 28% year-on-year.
"This situation in Brazil is the complete opposite in the COVID-19 world and how it affects most businesses," Knight said.
Retail fertilizer prices continue to be considerably lower than a year ago. Both anhydrous and UAN28 are 17% lower, UAN32 is 13% less expensive, potash is 12% lower, urea is 11% less expensive, DAP is 8% lower and both MAP and 10-34-0 are 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.
|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|
|Mar 16-20 2020||408||433||370||382|
|Apr 13-17 2020||410||433||370||384|
|May 11-15 2020||413||433||370||388|
|Jun 8-12 2020||406||430||363||367|
|Jul 6-10 2020||405||427||360||360|
|Aug 3-7 2020||416||430||357||354|
|Aug 31-Sep 4 2020||431||442||348||361|
|Sep 28-Oct 2 2020||439||459||338||362|
|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|
|Mar 16-20 2020||466||491||235||278|
|Apr 13-17 2020||468||492||236||279|
|May 11-15 2020||468||492||237||280|
|Jun 8-12 2020||468||472||235||276|
|Jul 6-10 2020||467||461||233||272|
|Aug 3-7 2020||465||455||222||262|
|Aug 31-Sep 4 2020||459||436||216||254|
|Sep 28-Oct 2 2020||457||424||212||250|
Russ Quinn can be reached at email@example.com
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