DTN Retail Fertilizer Trends

Potash Price Increases Slow as Farmers Look at 2022 Fertilizer Needs

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The average retail price of UAN28 was $371/ton. While that's only marginally higher than last month, the nitrogen fertilizer is 72% more expensive than last year. (DTN Chart)

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.

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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/….

DRY
Date Range DAP MAP POTASH UREA
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
Liquid
Date Range 10-34-0 ANHYD UAN28 UAN32
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 russ.quinn@dtn.com

Follow him on Twitter @RussQuinnDTN

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Russ Quinn