DTN Retail Fertilizer Trends

OMAHA (DTN) -- Average retail prices for fertilizers showed some mixed moves the first week of January 2021 after several consecutive weeks of all prices moving higher, according to sellers surveyed by DTN.

Six of the eight major fertilizer prices were higher compared to the prior month. Four were up a significant amount, which DTN designates as 5% or more. Both DAP and potash were 6% higher than a month ago with DAP having an average price of $482 per ton and potash $369/ton.

MAP was up 7% from last month with an average price of $543/ton. Anhydrous was 10% higher compared to last month with an average price of $470/ton.

Two other fertilizers were slightly higher from a year earlier. Urea had an average price of $368/ton and 10-34-0 $464/ton.

The remaining two fertilizers were slightly lower in price from last month. UAN28 had an average price of $209/ton, while UAN32 is at $251/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.40/lb.N, anhydrous $0.29/lb.N, UAN28 $0.37/lb.N and UAN32 $0.39/lb.N.

The end of the year is when many farmers buy inputs for year-end tax-planning purposes. Among the items they buy is fertilizer for the next growing season.

DTN recently asked the following poll question: "Which of the following best describes your fertilizer buying strategy here at year-end?" over the last couple weeks of the 2020 and the first week of 2021.

With 353 total responses, the top answer was "Yes, I have already bought fertilizer," with 55% of the vote. Eighteen percent answered "Yes, I will buy fertilizer before the end of the year."

Two answers garnered 11% of responses. These were "No, I will buy fertilizer later this winter," and "No, I will buy fertilizer this spring."

The final option, "No, I will not be buying fertilizer at all," had 5% of the total responses.

It is interesting to see such a high percentage of those who took the poll already preordered fertilizer or were buying it by the end of the year. A combined 73% of the respondents gave these answers.

Another factor in this high number was the fairly open fall fertilizer application season after harvest this fall in most areas of the Corn Belt.

While some regions cannot apply in the fall, we did see quite a bit of fertilizer already applied after harvest. With retail fertilizer prices rising so much in recent weeks, those farmers who did apply fertilizer this fall are probably even more happy with this decision.

Retail fertilizer prices continue to be mostly lower in price from a year ago, but there are a few exceptions. Urea is 3% more expensive, DAP is 11% higher while MAP is 22% more expensive compared to last year.

Both potash and 10-34-0 are 2% less expensive, anhydrous is 3% lower, UAN32 is 8% lower and UAN28 is 12% 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
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	445	475	332	359
Nov 9-13 2020	454	486	333	358
Dec 7-11 2020	456	510	348	361
Jan 4-8 2021	482	543	369	368
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Nov 9-13 2020	455	422	208	248
Dec 7-11 2020	464	429	210	252
Jan 4-8 2021	464	470	209	251

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

Follow him on Twitter @RussQuinnDTN

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