DTN Retail Fertilizer Trends

OMAHA (DTN) --- Retail fertilizer prices tracked by DTN for the fourth week of August 2021 show slightly higher prices once again. However, this is the second straight week that no fertilizer saw significantly higher prices, which DTN designates as 5% or greater.

All eight of the major fertilizers were slightly higher compared to last month.

Potash, which cost $569/ton, had the largest change from last month, up 4% or $20/ton.

The rest of the fertilizers saw 1% price increases or less. DAP had an average price of $697/ton, MAP $756/ton, urea $557/ton, 10-34-0 $632/ton, anhydrous $748/ton, UAN28 $370/ton and UAN32 $420/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.61/lb.N, anhydrous $0.46/lb.N, UAN28 $0.66/lb.N and UAN32 $0.66/lb.N.

The affordability of fertilizer is on the decline, according to the most recent edition of the Rabobank North American Agribusiness Review.

Fertilizer prices have continued to rise since their last publication two months ago. At the same time, corn and soybean prices have decreased since their mid-June levels. This is pushing affordability of fertilizer prices in a less favorable direction, the report stated.

"Corn Belt potash prices are currently at their 'least affordable position' since 2019 and well above the five-year average," the report said. "While phosphate and nitrogen affordability trend negatively, they remain within the five-year range."

Another factor that could push fertilizer higher is issues with global trade. Geopolitics and COVID-19 are causing issues for more than just fertilizers, as agrochemicals could see an equally choppy ride in 2022.

Several factors, including high freight rates (up tenfold since early COVID-19 lows), high raw material and energy costs as well as increased global demand could combine to force elevated prices or scarce product availability for the next growing season, the report stated.

Retail fertilizer prices compared to a year ago show all fertilizers have increased significantly.

10-34-0 is now 36% more expensive, urea is 57% higher, DAP and potash are 62% more expensive, UAN32 is 63% higher, both UAN28 and anhydrous are 69% more expensive and MAP is 74% higher compared to last year.

DTN surveys more than 300 retailers, gathering roughly 1,700 fertilizer price bids, to compile the DTN Fertilizer Index each week. In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….

A long-planned potash mine gets the green light for construction in Saskatchewan, Canada, was the focus of last week's Retail Fertilizer Trends column. You can read it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Apr 5-9 2021	618	699	431	504
May 3-7 2021	634	705	436	514
May 31-Jun 4 2021	652	712	443	524
Jun 28-Jul 2 2021	677	721	476	542
Jul 26-30 2021	695	753	549	554
Aug 23-27 2021	697	756	569	557
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Apr 5-9 2021	605	692	341	378
May 3-7 2021	618	712	358	398
May 31-Jun 4 2021	619	719	363	412
Jun 28-Jul 2 2021	625	730	366	421
Jul 26-30 2021	631	737	365	419
Aug 23-27 2021	632	748	370	420

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

Follow him on Twitter @RussQuinnDTN

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