OMAHA (DTN) -- For the fifth week in a row, five of the eight major fertilizers were lower in price while the remaining three nutrients were higher, according to prices tracked by DTN for the first week of October 2020.
A difference this week was one fertilizer was up a significant amount, which DTN designates as 5% or more. MAP was 5% more expensive compared to last month with an average price of $466/ton, a $21/ton increase.
Two other fertilizers were higher in price compared to the prior month, although the moves higher were fairly muted. DAP had an average price of $441/ton, up $7/ton, while urea was $361/ton, up $1/ton.
The remaining five fertilizers were slightly lower in price from last month. Potash had an average price of $335/ton, down $10/ton; 10-34-0 $457/ton, down $2/ton; anhydrous $424/ton, down $10/ton; UAN28 $209/ton, down $7/ton; and UAN32 $250/ton, down $3/ton.
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.
Most associate fertilizer applications with corn production, but research has shown that soybeans can benefit from additional nutrients.
University of Minnesota Extension has made revisions to its soybean fertilizer guidelines, according to a post from Oct. 8 in the Minnesota Crop News blog.
The article, written by University of Minnesota Extension nutrient management specialists Dan Kaiser and Fabian Fernandez, said there are five main takeaways when fertilizing beans.
The first is that nitrogen applications to soybeans are unlikely to pay off.
Research has shown that nitrogen fertilizer application can increase grain yield in very high yield potential situations. However, University of Minnesota research shows the amount of nitrogen required to increase yield has always been greater than the value of the yield increased by the fertilizer applied.
There is still significant flexibility in terms of when to apply phosphorus (P) and potash (K), according to Minnesota research. P and K can be applied within a crop rotation, the report said.
Minnesota growers looking to boost yield are now applying P and K fertilizer every year, ahead of all crops including soybeans.
"Soybean yield is less impacted by timing compared to corn, which greatly benefits from P and K applied ahead of the crop in situations where P and K is needed," the report said.
The researchers shared several other takeaways. They support using alternative K fertilizer sources other than potassium chloride and say it may be beneficial to apply a low rate of sulfur fertilizer ahead of soybeans. It's also important to consider micronutrients.
To read the entire University of Minnesota Extension blog entry, go to https://blog-crop-news.extension.umn.edu/….
Retail fertilizer prices continue to be considerably lower in price from a year ago. Both anhydrous and UAN28 are 17% lower, UAN32 is 14% less expensive, potash is 13% lower, urea is 11% less expensive, DAP is 7% lower, 10-34-0 is 3% less expensive and MAP is 1% 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 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.
|Oct 7-11, 2019||472||473||383||403|
|Nov 4-8 2019||462||471||384||396|
|Dec 2-6 2019||445||463||379||381|
|Dec 30-Jan 3 2020||438||446||376||363|
|Jan 27-31 2020||414||435||373||359|
|Feb 24-28 2020||409||434||371||366|
|Mar 23-27 2020||409||434||370||382|
|Apr 20-24 2020||410||433||370||385|
|May 18-22 2020||409||434||367||387|
|Jun 15-19 2020||405||429||363||360|
|Jul 13-17 2020||406||428||361||359|
|Aug 10-14 2020||426||434||353||355|
|Sep 7-Sep 11, 2020||434||445||345||360|
|Oct 5-9 2020||441||466||335||361|
|Oct 7-11, 2019||470||509||253||289|
|Nov 4-8 2019||473||499||249||289|
|Dec 2-6 2019||470||490||242||276|
|Dec 30-Jan 3 2020||470||487||238||273|
|Jan 27-31 2020||467||488||237||275|
|Feb 24-28 2020||466||490||235||277|
|Mar 23-27 2020||466||491||235||278|
|Apr 20-24 2020||468||492||236||279|
|May 18-22 2020||469||490||237||280|
|Jun 15-19 2020||468||464||233||273|
|Jul 13-17 2020||468||460||225||263|
|Aug 10-14 2020||465||447||221||259|
|Sep 7-Sep 11, 2020||459||434||216||253|
|Oct 5-9 2020||457||424||209||250|
Russ Quinn can be reached at email@example.com.
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