OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the fourth week of May 2022 show mostly slight increases, but some slightly lower prices as well. This is the second week in a row that three fertilizers' prices have declined.
Five fertilizers' prices were higher compared to last month, but none were up a considerable amount. DTN designates a significant move as anything 5% or greater.
DAP had an average price of $1,056/ton, MAP $1,082/ton, 10-34-0 $906/ton, UAN28 $634/ton and UAN32 $731/ton (all-time high).
Three fertilizers were slightly less expensive compared to last month, but again, the price changes amounted to less than 5%. Potash had an average price of $879/ton, urea $989/ton and anhydrous $1,531/ton.
On a price per pound of nitrogen basis, the average urea price was at $1.08/lb.N, anhydrous $0.93/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N.
Grain prices are expected to remain elevated and this will help support fertilizer prices, according to Dow Jones. In a recent research report by Piper Sandler's Charles Neivert, the analyst said grain prices look to remain high in 2022 thanks to robust demand coupled with reduced global grain output, in part because of the Ukraine/Russia conflict.
"The high grain value will likely incentivize growers in 2023 to add more acres where possible and use the optimal application rates of nutrients," Neivert said.
Grain prices could ease some in 2023, but remain elevated; a long-term change, he said, is yet to be perceived by investors.
Most fertilizers continue to be considerably higher in price than one year earlier.
10-34-0 is 46% more expensive, MAP is 53% higher, DAP is 62% more expensive, UAN28 is 75% higher, UAN32 is 80% more expensive, urea is 89% is higher, potash is 98% higher and anhydrous is 113% 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.
Potash is one nutrient whose price could climb in the near future thanks to the military conflict between Ukraine and Russia, according to a Kansas State University Extension Agricultural Economist. You can read it here: https://www.dtnpf.com/….
|May 24-28 2021||652||709||443||523|
|Jun 21-25 2021||670||720||469||541|
|Jul 19-23 2021||695||750||543||553|
|Aug 16-20 2021||695||755||564||556|
|Sep 13-17 2021||702||776||598||572|
|Oct 11-15 2021||798||860||710||719|
|Nov 8-12 2021||821||906||762||832|
|Dec 6-10 2021||840||919||778||887|
|Jan 3-7 2022||863||931||809||913|
|Jan 31-Feb 4 2022||877||933||813||905|
|Feb 28-Mar 4 2022||879||937||815||887|
|Mar 28-Apr 1 2022||1033||1045||868||1022|
|Apr 25-29 2022||1049||1082||881||1004|
|May 23-27 2022||1056||1082||879||989|
|May 24-28 2021||619||719||361||407|
|Jun 21-25 2021||625||724||366||420|
|Jul 19-23 2021||632||736||365||419|
|Aug 16-20 2021||631||743||369||420|
|Sep 13-17 2021||632||762||381||428|
|Oct 11-15 2021||654||873||442||488|
|Nov 8-12 2021||719||1162||566||614|
|Dec 6-10 2021||756||1372||577||661|
|Jan 3-7 2022||795||1430||584||679|
|Jan 31-Feb 4 2022||826||1487||600||699|
|Feb 28-Mar 4 2022||837||1487||603||703|
|Mar 28-Apr 1 2022||896||1526||637||711|
|Apr 25-29 2022||906||1534||631||730|
|May 23-27 2022||906||1531||634||731|
Russ Quinn can be reached at Russ.Quinn@dtn.com
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