DTN Retail Fertilizer Trends
UAN28 Prices Surge 34% Since Last Month Amid Nitrogen Price Spike
OMAHA (DTN) -- According to retail fertilizer prices tracked by DTN for the fourth week of March 2021, some fertilizer prices are still climbing at pretty good clip, while others have not increased as much as in recent weeks. Like last week, only seven of the eight major fertilizers were up a significant amount, which DTN designates as 5% or more.
Four of the major fertilizers continue to push considerably higher. UAN28 was up a mammoth 34% from last month and had an average price of $335/ton. UAN32 was 27% more expensive compared to the prior month and had an average price of $376/ton.
Anhydrous was up 26% looking back to last month and had an average price of $684/ton. 10-34-0 was 13% higher compared to the prior month and had average price of $599/ton.
The remaining four fertilizers were higher once again, but these fertilizers saw lesser price spikes compared to the previous weeks.
Urea was 8% more expensive looking back to last month and had an average price of $499/ton.
Both MAP and potash were 5% higher than last month. MAP had average price of $696/ton while potash was at $428/ton.
DAP was just up slightly compared back to the prior month. The phosphorus fertilizer had an average price of $616/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.54/lb.N, anhydrous $0.42/lb.N, UAN28 $0.60/lb.N and UAN32 $0.59/lb.N.
DTN recently asked the following poll question, "With some questions about fertilizer supply after a busy fall application season and retail prices climbing much higher during the last several months, what best describes your feeling toward the fertilizer situation currently?" Six different responses were given for the question.
As of Tues. March 30, there were just under 200 responses. "I have locked in prices; I am not concerned" was the most popular selection with 35% of the votes.
The next popular response was "I have locked in prices; I am somewhat concerned" with 32% of the vote. Next was "I have locked in prices; I am extremely concerned" with 19% of the vote.
The remaining three possible selections trailed the first three responses by quite a large margin.
"I have not locked in prices; I am extremely concerned" earned 6% of the response, while both "I have not locked in prices; I am not concerned" and "I have not locked in prices; I am somewhat concerned" finished tied with just 4% of the vote each.
While this may be a narrow selection of farmers, I think it shows that many farmers locked in their spring fertilizer needs early and avoided the recent price spikes in retail fertilizer prices. "I have locked in prices" were the top three responses.
I also believe it is also somewhat telling the fourth most popular response was "I have not locked in prices; I am extremely concerned." Some very truthful farmers did not lock in prices, and they will pay considerably more for nutrients this spring.
I appreciate everyone who took the time to answer the poll question on the DTN websites. Look for more fertilizer-related poll questions in the future.
With retail fertilizer prices moving higher over recent months, all fertilizers are now higher in price from a year ago.
Potash is now 16% more expensive, 10-34-0 is 28% higher, urea is 31% more expensive, UAN32 35% higher, anhydrous is 39% more expensive, UAN28 is 43% higher, DAP is 51% more expensive and MAP 60% is higher 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 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|
|Mar 22-26 2021||616||696||428||499|
|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|
|Mar 22-26 2021||599||684||335||376|
Russ Quinn can be reached at email@example.com
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