OMAHA (DTN) -- Retail fertilizer prices continue to be slightly higher, according to a DTN survey of more than 300 fertilizer retailers for the last week of August 2021. This marks the third straight week no fertilizer saw significantly higher prices, which DTN designates as 5% or greater.
As has been the case in recent weeks, all eight of the major fertilizers were slightly higher compared to last month.
Potash once again had the largest increase, about 3%, to $571/ton.
Anhydrous followed, up 2%, with an average price of $749/ton.
At $371/ton, UAN28 prices increased 1%.
The rest were higher, but by less than 1%. DAP had an average price of $697/ton, MAP $756/ton, urea $557/ton, 10-34-0 $632/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.
In a post titled "How should rising nitrogen fertilizer prices impact corn farmers' decision making for the 2022 growing season" (https://blog-crop-news.extension.umn.edu/…) from the University of Minnesota Extension Minnesota Crop News, author and University of Minnesota Extension soil scientist Jeff Vetsch said corn producers face a big decision on how much nitrogen to apply for the 2022 growing season.
The severe drought hitting the region makes this decision even more complex, and he suggests the Corn Nitrogen Rate Calculator (http://cnrc.agron.iastate.edu/…) can help as it allows users to input both the corn price and the price of the nitrogen fertilizer of choice. The site will calculate the Maximum Return to Nitrogen (MRTN) rates after the user inputs various factors.
Another factor to consider for Northern Plains corn producers is how much nitrogen uptake by the crop occurred amid the ongoing drought. Lower nitrogen uptake combined with minimal nitrogen loss usually results in greater quantities of nitrate remaining in the soil after harvest. Farmers should consider taking soil samples for nitrate this fall to see how much of a nitrogen credit there is, which could significantly reduce nitrogen fertilizer rates for next year's crop, he wrote.
"Nitrogen management in corn can be difficult and complex," the report said. "Utilizing as many tools as possible will assist you in making agronomic and environmentally sound management decisions.
Retail fertilizer prices compared to a year ago show all have increased significantly.
10-34-0 is now 38% more expensive, urea is 55% higher, DAP is 62% more expensive, potash 64% higher, UAN32 is 65% more expensive, MAP 71% higher and both UAN28 and anhydrous are 72% more expensive 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/….
Rabobank Research sees fertilizer becoming less affordable was the focus of last week's Retail Fertilizer Trends column. You can read it here: https://www.dtnpf.com/….
|Aug 31-Sep 4 2020||431||442||348||361|
|Sep 28-Oct 2 2020||439||459||338||362|
|Oct 26-30 2020||448||477||332||358|
|Nov 23-27 2020||456||495||337||359|
|Dec 21-25 2020||474||535||365||363|
|Jan 18-22 2021||493||563||379||387|
|Feb 15-19 2021||600||648||404||457|
|Mar 15-19 2021||616||693||424||496|
|Apr 12-16 2021||624||702||432||509|
|May 10-14 2021||631||702||437||515|
|Jun 7-11 2021||656||717||450||527|
|Jul 5-9 2021||690||729||491||549|
|Aug 2-6 2021||695||755||557||556|
|Aug 30-Sep 3 2021||697||756||571||557|
|Aug 31-Sep 4 2020||459||436||216||254|
|Sep 28-Oct 2 2020||457||424||212||250|
|Oct 26-30 2020||456||423||209||249|
|Nov 23-27 2020||457||424||210||249|
|Dec 21-25 2020||463||461||210||250|
|Jan 18-22 2021||481||482||215||251|
|Feb 15-19 2021||522||530||245||288|
|Mar 15-19 2021||596||671||331||373|
|Apr 12-16 2021||609||700||345||387|
|May 10-14 2021||620||713||361||406|
|Jun 7-11 2021||620||718||363||414|
|Jul 5-9 2021||624||732||371||421|
|Aug 2-6 2021||631||738||367||418|
|Aug 30-Sep 3 2021||632||749||371||420|
Russ Quinn can be reached at email@example.com
Follow him on Twitter @RussQuinnDTN
(c) Copyright 2021 DTN, LLC. All rights reserved.