OMAHA (DTN) -- Retail fertilizer prices continue to be mostly higher compared to last month, according to prices tracked by DTN for the first week of May 2022.
Seven fertilizers were more expensive, although none were up significantly, which DTN designates as a price move of 5% or more.
DAP had an average price of $1,057/ton (all-time high), MAP $1,081/ton (all-time high), potash $881/ton, 10-34-0 $906/ton, anhydrous $1,534/ton (all-time high), UAN28 $631/ton and UAN32 $730/ton (all-time high).
MAP set a new all-time high last week, continuing the streak of record-breaking movements in the fertilizer segment. According to DTN's 13-year data set, only potash and 10-34-0 have yet to break historical records.
One fertilizer was slightly lower compared to last month, but nothing noteworthy. Urea was slightly less expensive looking back to last month and had an average price of $1,001/ton.
On a price per pound of nitrogen basis, the average urea price was at $1.09/lb.N, anhydrous $0.94/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N.
In the most recent edition of the North American Agribusiness Review by Rabobank, analysts took a closer look at farm inputs, mainly fertilizer. The Russian invasion of Ukraine has caused a great deal of volatility for the inputs market.
This situation, along with natural gas bearing the brunt of geopolitical scrutiny, has added a second pillar of uncertainly in global fertilizer markets.
"This has resulted in price dislocations and illiquid markets (exacerbated by seasonality) causing fertilizer prices to reach nominal and real-time records in some markets since the conflict began," the report stated. "This uncertainty is likely to persist over the coming months."
North American agricultural producers are likely to see tight markets, with the risk that uncertainty in the global sphere bleeds further into the U.S. Some regions may move earlier than normal to secure supplies for the upcoming season, given the potential long-term risk associated with the war.
Rabobank said there are two big events to watch for in the near future: potential demand destruction among growers due to record high prices and how the Chinese re-enter the global export market of nitrogen and phosphorus. You can read the full report here: https://research.rabobank.com/…
Most fertilizers continue to be considerably higher in prices than one year earlier.
10-34-0 is 47% more expensive, MAP is 53% higher, DAP is 67% more expensive, UAN28 is 76% higher, UAN32 is 83% more expensive, urea is 95% is higher, potash is 102% higher and anhydrous is 115% 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.
Canadian fertilizer manufacturer Nutrien has increased fertilizer production in the wake of the invasion of Ukraine by Russia, Dow Jones reported. You can read it here: https://www.dtnpf.com/….
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Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
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