DTN Retail Fertilizer Trends

MAP Price Close to Overtaking 2019's Price in Steady Six-Week Rise

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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MAP prices increased 5% this week compared to last month. At $466/ton, the average price is just $7/ton shy of where prices were at this time last year. (DTN Chart)

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.

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

Or you can follow him on Twitter at @RussQuinnDTN

Russ Quinn