DTN Retail Fertilizer Trends

OMAHA (DTN) -- Average retail fertilizer prices continued to be mixed the second week of October 2020, according to retailers surveyed by DTN. For the sixth week in a row, prices for five of the eight major fertilizers were lower, while prices for the remaining three nutrients were higher.

The difference this week was prices for two of the three fertilizers that were higher were up by a significant amount, which DTN designates as 5% or more. MAP was 6% more expensive compared to last month with an average price of $473 per ton, while DAP was up 5% from the prior month with an average price of $455 per ton.

The remaining fertilizer that was higher in price was up just slightly from last month. 10-34-0 had an average price of $457 per ton.

Also different this week was that the price of one fertilizer was down a considerable amount. UAN28 was down 5% from last month with an average price of $209 per ton.

The remaining four fertilizers were slightly lower in price from last month. Potash had an average price of $332/ton, urea $359/ton, anhydrous $424/ton and UAN32 $249/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 $0.37/lb.N and UAN32 $0.39/lb.N.

The past few weeks, DTN has asked the following poll question on our websites: "What best describes your fertilizer purchasing strategy before harvest?" There was a total of 232 responses to the question.

The most popular answer, at 34%, was "I will purchase fertilizer after harvest for next spring." This was followed closely by "I will buy fertilizer as I need it in the fall" with 30%.

Both "I bought fertilizer this summer" and "I will not be buying fertilizer" were the next popular responses, both with 11%. Bringing up the rear were "I will purchase fertilizer before harvest" at 7% and "I bought fertilizer this spring" with 6% of the vote.

Considering some fertilizers have prices that are at or near multiple-year lows, it's not surprising the top two answers involve not purchasing fertilizer until next spring or as it is needed this fall. This answer is fairly logical considering where retail prices are at now.

I was a little surprised there such a large gap between the top two answers and the next answers. However, if you added up "I bought fertilizer this summer" and "I bought fertilizer this spring," it would represent 17% of the total vote, which would be the third-highest response of the poll.

What this poll question response appears to show is most farmers do not plan to preorder their fertilizer needs this fall or maybe even into the spring.

Thank you to everyone who took part in the poll.

Retail fertilizer prices continue to be mostly lower in price from a year ago, but there is one exception. MAP is less than 1% higher compared to last year with its recent higher prices.

DAP is 2% lower, 10-34-0 is 3% less expensive, urea is 11% lower, potash 13% less expensive, UAN32 14% lower and both anhydrous and UAN28 are 17% 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
Oct 14-18, 2019	465	472	382	402
Nov 11-15 2019	457	465	382	388
Dec 9-13 2019	445	463	378	380
Jan 6-10 2020	435	444	375	358
Feb 3-7 2020	413	435	373	361
Mar 2-6 2020	409	432	369	369
Mar 30-Apr 3 2020	408	432	370	383
Apr 27-May 1 2020	413	433	370	386
May 25-29 2020	410	434	365	377
Jun 22-26 2020	404	429	363	359
Jul 20-24, 2020	407	428	360	358
Aug 17-21 2020	427	434	353	356
Sep 14-18 2020	434	448	344	360
Oct 12-16 2020	455	473	332	359
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Oct 14-18, 2019	471	507	253	289
Nov 11-15 2019	473	496	246	284
Dec 9-13 2019	470	489	241	276
Jan 6-10 2020	471	486	237	272
Feb 3-7 2020	464	490	235	277
Mar 2-6 2020	466	490	235	277
Mar 30-Apr 3 2020	467	492	235	278
Apr 27-May 1 2020	468	492	237	279
May 25-29 2020	468	478	236	279
Jun 22-26 2020	468	463	233	273
Jul 20-24, 2020	466	460	225	263
Aug 17-21 2020	465	445	220	259
Sep 14-18 2020	455	431	219	253
Oct 12-16 2020	457	424	209	249

Russ Quinn can be reached at russ.quinn@dtn.com

Follow him on Twitter at @RussQuinnDTN

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