DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices tracked by DTN continued to be mostly higher the second week of March 2022. Two fertilizers spiked considerably higher.

For the second week in a row, seven of the eight major fertilizers were higher compared to the previous month, but only two were up a significant amount. DTN designates a significant move as anything 5% or more.

DAP and 10-34-0 were both 5% higher compared to last month. DAP had an average price of $919 per ton, while 10-34-0 was at $866/ton.

The remaining five fertilizers were slightly higher. MAP had an average price of $955/ton, potash $822/ton, anhydrous $1,490/ton, UAN28 $603 (all-time high price) and UAN32 $704/ton (all-time high price).

One fertilizer was slightly lower compared to the prior month. Urea had an average price of $901/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.98/lb.N, anhydrous $0.91/lb.N, UAN28 $1.08/lb.N and UAN32 $1.10/lb.N.

USDA announced on Friday it will support additional fertilizer production to address the rising cost of nutrients. The government agency will put $250 million in a grant program to support new fertilizer production, according to a USDA news release.

To address the growing competitive concerns, USDA will also launch a public inquiry seeking information regarding seeds and agricultural inputs, fertilizer and retail markets.

"Recent supply chain disruptions from the global pandemic to (Russian President Vladimir) Putin's unprovoked war against Ukraine have shown just how important it is to invest in this crucial link in the agricultural supply chain here at home," said Agriculture Secretary Tom Vilsack. "The planned investment is one example of many Biden-Harris administration initiatives to bring production and jobs back to the United States, promote competition, and support American goods and services." (Read more on what Vilsack had to say at Commodity Classic here: https://www.dtnpf.com/….)

USDA will use funds from the Commodity Credit Corporation (CCC) set aside in September for market disruptions to develop a grant program. This will provide "gap" financing to bring new, independent domestic fertilizer production capacity online, similar to the recently announced meat and poultry grants that are designed to promote competition in that sector.

Details on the application process will be announced in the summer of 2022, with the first awards expected before the end of 2022.

USDA will seek information specifically on fertilizer, seed and agricultural inputs and retail and wholesale markets. The comment period will be for 60 days once the requests for information are published in the Federal Register.

USDA will use the comments to develop reports and policies relating to fair and competitive markets, according to the release. Subsequent actions might range from new grant and loan programs to additional rules and regulations under the Packers and Stockyards Act of 1921 and other relative laws to increase fairness and competition in American agriculture markets.

Most fertilizers continue to be considerably higher in prices than one year earlier.

MAP is now 38% more expensive, 10-34-0 is 49% higher, DAP is 50% more expensive, urea is 87% higher, potash is 95% more expensive, UAN28 is 97% higher, UAN32 104% is more expensive and anhydrous is 139% higher compared to last year.

DTN surveys about 300 retailers 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/….

Brazil is looking for new sources for fertilizers as the Russia-Ukraine military conflict threatens to cut off shipments of nutrients to the South American agriculture giant. You can read it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Sep 20-24 2021	709	786	625	585
Oct 18-22 2021	810	863	716	735
Nov 15-19 2021	825	911	769	859
Dec 13-17 2021	858	935	796	901
Jan 10-14 2022	863	932	807	913
Feb 7-11 2022	876	935	815	905
Mar 7-11 2022	919	955	822	901
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Sep 20-24 2021	633	772	383	436
Oct 18-22 2021	659	940	451	492
Nov 15-19 2021	739	1220	571	651
Dec 13-17 2021	790	1420	579	663
Jan 10-14 2022	796	1430	584	679
Feb 7-11 2022	827	1487	600	699
Mar 7-11 2022	866	1490	603	704

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

Follow him on Twitter at @RussQuinnDTN

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