OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the second week of April 2022 show all eight major fertilizers had higher prices than the previous month. This has been the trend in recent weeks.
Leading the way higher was DAP. The phosphorus fertilizer was 8% more expensive compared to last month and had an average price of $1,047/ton, which is an all-time high price in the DTN data set.
Two fertilizer prices were also significantly higher compared to last month. DTN designates a significant move as 5% or more.
MAP and urea were both 7% higher than in late March. MAP had average price of $1,071/ton while urea is at $1,017/ton (all-time high).
The remaining five fertilizers were slightly higher looking back to last month. Potash had an average price of $875/ton, 10-34-0 $906/ton, anhydrous $1,534/ton (all-time high), UAN28 $630/ton (all-time high) and UAN32 $730/ton (all-time high).
On a price per pound of nitrogen basis, the average urea price was at $1.11/lb.N, anhydrous $0.94/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N.
Those who grew crops in drought areas last year might see an unusual opportunity this spring. Last year's dry weather may have led to a nitrogen carryover credit that is not normally there, according to University of Minnesota Extension.
When there is enough of a water deficit in the soil profile that melting snow and spring rains do not saturate the soil, there is less risk of nitrogen loss, which means farmers might be able to take a nitrogen credit. It is anticipated this may be the case at some point this year or next following the dry conditions experienced in much of state of Minnesota in 2021.
"Minnesota Valley Testing Labs conducted soil nitrate tests last fall and generously shared their data with us," a University of Minnesota Extension report said. "Over 70% of the nearly 240 samples analyzed had an N credit of at least 35 pounds. Nearly 30% of the samples had N credits of 155 pounds or more."
University of Minnesota research going back to the early 1990s recommends producers use a pre-plant soil nitrate test (PPNT) in two certain situations. One would be in fields with a long-term manure application history and two would be in continuous corn following a drought.
"If you are growing corn this year, remember to request and use the PPNT, which gives results in ppm nitrate, and not the pre-sugar beet test, which gives results in pounds per acre," the report said. "For similar reasons, you should not use recommendations from out-of-state, as the interpretation of the test results may not be correlated to the test protocol used in Minnesota."
To read the entire University of Minnesota Extension report click on the following link: https://blog-crop-news.extension.umn.edu/…
Most fertilizers continue to be considerably higher in price than one year earlier.
10-34-0 is 49% more expensive, MAP is 53% higher, DAP is 68% more expensive, UAN28 is 83% higher, UAN32 is 89% more expensive, urea is 100% is higher, potash is 103% higher and anhydrous is 119% more expensive compared to last year.
DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.
We take a look at how close three fertilizers are their all-time highs here: https://www.dtnpf.com/….
|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|
|Sep 27-Oct 1 2021||722||800||647||620|
|Oct 25-29 2021||812||873||731||751|
|Nov 22-26 2021||830||915||775||868|
|Dec 20-24 2021||862||932||807||910|
|Jan 17-21 2022||863||932||807||916|
|Feb 14-18 2022||874||935||815||891|
|Mar 14-18 2022||970||1001||843||954|
|April 11-15 2022||1047||1071||875||1017|
|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|
|Sep 27-Oct 1 2021||638||782||388||444|
|Oct 25-29 2021||663||982||458||522|
|Nov 22-26 2021||755||1308||574||660|
|Dec 20-24 2021||791||1424||583||679|
|Jan 17-21 2022||800||1433||585||683|
|Feb 14-18 2022||837||1488||603||703|
|Mar 14-18 2022||876||1520||610||706|
Russ Quinn can be reached at Russ.Quinn@dtn.com
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