OMAHA (DTN) -- Retail fertilizer prices continue to be mostly higher the second week of January 2022, according to retailers surveyed by DTN. However, for the first time in more than 13 months, a fertilizer was actually lower than a month ago.
None of the eight major fertilizers were up a considerable amount, another new trend. DTN designates a significant move as anything 5% or more.
Seven of the eight major fertilizers were slightly higher. DAP had an average price of $863 per ton, potash $807/ton, urea $913/ton (all-time high), 10-34-0 $796/ton, anhydrous $1,430/ton (all-time high), UAN28 $584/ton (all-time high) and UAN32 $679/ton (all-time high).
One fertilizer was actually lower compared to a month ago; this is the first time this has happened since the first week of December 2020. MAP was down just slightly and had an average price of $932/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.99/lb.N, anhydrous $0.87/lb.N, UAN28 $1.04/lb.N and UAN32 $1.06/lb.N.
The Federal Reserve Board is expecting the income of U.S. farmers to drop in 2022, according to Dow Jones.
Expectations are for income to be lower in 2022 than in 2021, as recent growth in input prices outpaced growth in agricultural commodity prices. Farmers expect this trend to continue, according to the Federal Reserve in a report published last week.
Higher costs for inputs like fertilizer, as well as fuel and transportation, are pressuring farmers' budgets globally, even as grain futures remain at high levels not seen in several years.
Retail fertilizer prices compared to a year ago show all fertilizers have increased significantly, with several fertilizers having well over 100% price increases.
MAP is now 69% more expensive, 10-34-0 is 70% higher, DAP is 78% more expensive, potash is 116% higher, urea is 145% more expensive, UAN32 is 175% higher, UAN28 178% is more expensive and anhydrous is 202% 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 post in the University of Illinois Farm Policy News reported a couple global events could affect fertilizer supply and thus price. You can read it here: https://www.dtnpf.com/….
The recent DTN Global Fertilizer Outlook series focused attention to what the world expectation could be in 2022. This series examined the supply and demand of nutrients globally as well as what direction fertilizer prices could go in the New Year.
Read the nitrogen outlook here: https://www.dtnpf.com/….
Read the phosphorus outlook here:
Read the potash outlook here:
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Russ Quinn can be reached at firstname.lastname@example.org
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