OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the second week of March 2021 continue to show considerably higher prices. Once again, all eight of the major fertilizers were up a significant amount, which DTN designates as 5% or more, for the sixth week in a row.
Half of the fertilizers continue to be double digits higher from the previous month. UAN28 was staggering 26% higher compared to last month with an average price of $306/ton. UAN28 is now above the $300/ton level for the first time since the second week of September 2015.
Also higher was UAN32, which was 21% higher from last month. The liquid nitrogen fertilizer had an average price of $344/ton.
Anhydrous was 19% more expensive looking back to the prior month. The fertilizer had an average price of $625/ton. Anhydrous is above the $600/ton level for the first time since the third week of Dec. 2015. For that week, anhydrous had an average price of $608/ton.
10-34-0 is 13% higher compared to last month. The starter fertilizer had an average price of $581/ton.
The remaining four fertilizers had slightly less sharp price spikes compared to the previous last few weeks.
Both MAP and urea were up 7% while potash was 6% more expensive and DAP was 5% higher. MAP had an average price of $690/ton, urea $483/ton, potash $423/ton and DAP $615/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.53/lb.N, anhydrous $0.38/lb.N, UAN28 $0.55/lb.N and UAN32 $0.54/lb.N.
A CoBank agronomy outlook from March 2021 paints a bright picture as we approach the spring planting season. Both farmers and farm supply cooperatives are in strong financial positions at this moment.
For cooperatives, CoBank sees a profitable spring agronomy season. Factors such as meaningful expansion in corn, soybean and wheat planted acres and rising fertilizer prices are positive for retailer margins.
"Given higher acreage forecasts, we expect farmers to spend more money on traditional fertilization products, specifically the principal NPK macronutrients (i.e., nitrogen, potassium and phosphorous) during the spring growing season," the CoBank report said.
This demand follows a very strong post-harvest fall fertilizer application season (October to December 2020) in contrast to 2019, which had early and extreme winter weather. The increase in fertilizer demand has generally tracked the rise in grain prices, according to the report.
The one factor that could create some issues for the upcoming planting season would be the recent cold and wet weather. This uncooperative weather could delay planting and create some logistical bottlenecks, which could cause some input shortages in certain parts of the country, the report said.
With retail fertilizer prices moving higher over recent months, all fertilizers are now higher in price from a year ago.
Potash is now 14% more expensive, UAN32 is 24% higher, 10-34-0 is 25% more expensive, both urea and anhydrous were 28% higher, UAN28 is 30% more expensive, DAP is 51% higher and MAP is 60% 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.
|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|
|Nov 16-20 2020||455||488||336||358|
|Dec 14-18 2020||466||522||360||361|
|Jan 11-15 2021||486||551||373||373|
|Feb 8-12 2021||588||642||398||453|
|Mar 8-12 2021||615||690||423||483|
|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|
|Nov 16-20 2020||455||422||207||249|
|Dec 14-18 2020||463||450||210||253|
|Jan 11-15 2021||469||474||210||247|
|Feb 8-12 2021||512||524||243||285|
|Mar 8-12 2021||581||625||306||344|
Russ Quinn can be reached at firstname.lastname@example.org
Follow him on Twitter @RussQuinnDTN
(c) Copyright 2021 DTN, LLC. All rights reserved.