OMAHA (DTN) -- A majority of retail fertilizer prices are lower the third week of October 2020 compared to a month earlier, with only the two phosphate prices bucking the trend, according to retailers surveyed by DTN.
This breaks a six-week streak where five of the eight major fertilizers tracked by DTN have been lower. This week, the price of six fertilizers declined.
While there were six fertilizers lower in price compared to last month, none were down a significant amount, which DTN designates as 5% or more. Potash had an average price $332 per ton, down $6; urea $359/ton, down $3; 10-34-0 $456/ton, down $1; anhydrous $424/ton, down $1; UAN28 $209/ton, down $6; and UAN32 $249/ton, down $4.
Of the two remaining fertilizers that had higher prices, MAP was up a significant amount. Its average retail price increased $23/ton, or 5%, from last month to $476/ton.
The price of DAP was also higher, up $12/ton, at $446/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.
Occasionally, I like to look back on the nearly 12 years of DTN retail fertilizer price data to observe price trends. As I expected, prices for some fertilizers are near all-time lows.
I thought this might be the case with UAN28's average price of $209/ton. Looking back, this is the lowest price since the fourth week of October 2017, when the average price was $208/ton.
The lowest price for UAN28 in the entire data set was from the second week of October 2017 when the price fell to $205/ton. If current retail prices continue to decline, we could set a new all-time low in the coming weeks. Stay tuned.
If UAN28 is near an all-time DTN low price, then surely UAN32 must be this low as well, doesn't it? The answer to that question is yes.
UAN32 for last week was at $249/ton. The last time its price was this low was the first week of October 2017, when it was $243/ton, which is also the all-time low price in our data set for UAN32.
Then I wondered where we are historically on the price of fertilizers that could actually be applied this fall -- anhydrous, DAP and MAP. There is both good and bad news with these fertilizers.
First the good news. Anhydrous is at the lowest price, $424/ton last week, since the first week of December 2017. The all-time low price in the DTN data set for anhydrous was $393/ton set the fourth week of October 2017.
And now the bad news. DAP and MAP prices are nowhere near all-time lows like some of the other fertilizers.
DAP's average price of $446/ton last week was the highest price since the last week of November 2019 when the price was $456/ton. MAP's average price of $476/ton last week was the highest price since the second week of September 2019 when the price was at $482/ton.
The all-time-high DAP and MAP prices were set back in the not-so-good old days of 2008. The first week of November 2008 saw DAP at $985/ton and MAP $1,079/ton. That week was also the all-time high for anhydrous at $1,043/ton in DTN's data set.
So, while DAP and MAP prices are not at all-time DTN low prices, they are also a long way from the all-time highs.
Like last week, all but one of the fertilizers are lower in price from a year earlier. Only one fertilizer, MAP, is higher at 1% higher than last year.
The remaining seven fertilizers are lower compared to last year. 10-34-0 is 3% lower, DAP is 4% less expensive, urea is 11% lower, both potash and UAN32 are 14% less expensive, anhydrous is 16% lower and UAN28 is 17% lower than last year.
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 21-25, 2019||465||473||383||404|
|Nov 18-22 2019||456||466||381||387|
|Dec 16-20 2019||444||460||378||377|
|Jan 13-17 2020||433||444||375||357|
|Feb 10-14 2020||413||435||373||361|
|Mar 9-13 2020||407||432||370||377|
|Apr 6-10 2020||409||434||370||382|
|May 4-8 2020||413||433||370||388|
|Jun 1-5 2020||407||431||364||373|
|Jun 29-Jul 3 2020||406||427||361||357|
|Jul 27-31 2020||410||429||358||355|
|Aug 24-28 2020||430||435||352||355|
|Sep 21-25 2020||434||453||338||361|
|Oct 19-23 2020||446||476||332||359|
|Oct 21-25, 2019||471||507||251||291|
|Nov 18-22 2019||472||496||245||284|
|Dec 16-20 2019||469||487||239||276|
|Jan 13-17 2020||470||487||237||275|
|Feb 10-14 2020||464||490||235||277|
|Mar 9-13 2020||466||490||235||278|
|Apr 6-10 2020||468||492||235||278|
|May 4-8 2020||468||492||237||280|
|Jun 1-5 2020||468||475||236||276|
|Jun 29-Jul 3 2020||468||461||233||272|
|Jul 27-31 2020||465||454||223||262|
|Aug 24-28 2020||464||442||219||258|
|Sep 21-25 2020||457||425||215||253|
|Oct 19-23 2020||456||424||209||249|
Russ Quinn can be reached at email@example.com
Follow him on Twitter at @RussQuinnDTN
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