OMAHA (DTN) -- Average retail prices for all eight of the major fertilizers were higher the third week of January 2021 compared to last month, according to retailers surveyed by DTN. The trend of all eight major fertilizers' prices being higher has been seen on and off again in the last couple of months.
Three of the fertilizers were up a significant amount, which DTN designates as 5% or more. Urea was up 7% compared to last month with an average price of $387 per ton.
Also higher were MAP and anhydrous, which were both up 5% from last month. MAP had an average price of $563/ton, while anhydrous was at $482/ton.
Of the remaining five fertilizers, the average price of DAP, potash and 10-34-0 each increased by 4%. DAP had an average price of $493/ton, up $19/ton; potash was $379/ton, up $14/ton; and 10-34-0 was $481/ton, up $18/ton.
The average price of UAN28 was $215/ton, an increase of $5/ton from the prior month, while UAN32 was $251/ton, $1/ton more expensive than last month.
On a price per pound of nitrogen basis, the average urea price was at $0.42/lb.N, anhydrous $0.29/lb.N, UAN28 $0.38/lb.N and UAN32 $0.39/lb.N.
Retail fertilizer prices have climbed steadily over the past couple of months. Mark Rohrich, who owns Maverick Ag in Ashley, North Dakota, said farmers applied a lot of fertilizer this fall after harvest, and that shrank the supply of some fertilizers and caused prices to rise.
"Lots of MAP and other fertilizers went on this fall up here, so that tightened up supplies, regionally anyway," Rohrich told DTN.
Fertilizers will also trend up with the rally in corn prices. This happens partly due to use-based situations and partly because everyone wants a piece of the profit, he said.
Rohrich, who also farms, said higher fertilizer prices look to be in place for the near term.
"One could only guess how long fertilizer and grain will hold higher, but I think fertilizer will go higher before it goes lower," he said.
With retail fertilizer prices moving up over recent months, most fertilizers are now higher in price from a year ago, but there are a few exceptions. Potash is 1% more expensive, 10-34-0 is 2% higher, urea is 8% more expensive, DAP is 19% higher and MAP is 29% more expensive compared to last year.
Three fertilizers are lower. Anhydrous is 1% lower, while both UAN28 and UAN32 are 9% 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.
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Russ Quinn can be reached at firstname.lastname@example.org
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