DTN Retail Fertilizer Trends

Average Retail Prices for 5 Fertilizers Move Lower

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The average retail price for MAP fertilizer increased $17 per ton, or 4%, to $459 per ton compared to the same time last month. It's now only $15 per ton less expensive than it was at this time last year. (DTN chart)

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.

DRY
Date Range DAP MAP POTASH UREA
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
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
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 russ.quinn@dtn.com

Follow him on Twitter @RussQuinnDTN

Russ Quinn