DTN Retail Fertilizer Trends

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/….

DRY
Date Range	DAP	MAP	POTASH	UREA
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
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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

Follow him on Twitter @RussQuinnDTN

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