OMAHA (DTN) -- Retail prices of all eight major fertilizers were significantly higher for the fourth week in a row, according to prices tracked by DTN for the fourth week of February 2021.
DTN considers a price move of 5% or more to be significant. This week, DAP had the highest price increase at 21% while potash had the smallest at 8%.
DAP, at $605/ton, led the way higher once again this week.
Urea and UAN32 were both 15% more expensive compared to last month. Urea had an average price of $464/ton while UAN32 was at $296/ton.
Both MAP and UAN28 were up 14% compared to the prior month. MAP had an average price of $661/ton while UAN28 was at $250/ton.
Anhydrous was 11% higher while 10-34-0 was up 9% and potash was 8% more expensive. Anhydrous had an average price of $544/ton, 10-34-0 $532/ton and potash $408/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.50/lb.N, anhydrous $0.33/lb.N, UAN28 $0.45/lb.N and UAN32 $0.46/lb.N.
In the most recent edition of the North American Agribusiness Review, RaboResearch Food and Agribusiness reported on the rapidly increasing phosphorus (P) fertilizer prices. The situation started in June 2020 with Mosaic filing a petition to request a countervailing duty investigation into imports from Morocco and Russia (https://www.dtnpf.com/…).
DTN's data shows DAP prices have increased $200/ton while MAP prices jumped an average of $233/ton since that time.
This situation was met with net imports of P significantly below year-ago levels in the summer, and then corn and soybeans prices began to rise in August. Strong international P fertilizer demand and lower global P utilization rates worked to tighten the market more.
"The seasonal component gives precedent to suggest that prices will likely remain at an elevated level over the coming weeks and months," the RaboResearch report said. "However, global utilization rates are likely to increase over the coming second and third quarter time period, and we could see prices level off and potentially lower in that time frame."
Higher grain prices, along with the recent ruling concerning countervailing duties, are likely to provide a price floor to North American P prices, according to RaboResearch. However, it sees lower P fertilizer prices in the second half of the year.
With retail fertilizer prices moving higher over recent months, all fertilizers are now higher in price from a year ago.
Both UAN28 and UAN32 are now 7% more expensive, potash is 10% higher, anhydrous is 11% more expensive, 10-34-0 is 14% higher, urea is 27% more expensive, DAP is 48% higher and MAP is 52% more expensive compared to 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.
|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|
|Nov 2-6 2020||447||479||331||358|
|Nov 30-Dec 4 2020||455||499||340||359|
|Dec 28-Jan 1 2021||475||537||366||367|
|Jan 25-29 2021||500||580||379||405|
|Feb 22-26 2021||605||661||408||464|
|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|
|Nov 2-6 2020||455||423||208||248|
|Nov 30-Dec 4 2020||459||427||208||249|
|Dec 28-Jan 1 2021||464||470||209||250|
|Jan 25-29 2021||489||489||220||258|
|Feb 22-26 2021||532||544||250||296|
Russ Quinn can be reached at firstname.lastname@example.org
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