DTN Retail Fertilizer Trends

OMAHA (DTN) -- Average retail fertilizer prices continued to be mostly lower the fourth week of June 2022, according to sellers surveyed by DTN. This trend has been in place for five weeks now.

Prices for all but one of the eight major fertilizers were lower compared to last month, with only one fertilizer down considerably. DTN designates a significant move as anything 5% or more.

Urea was 11% lower compared to last month. The nitrogen fertilizer had an average price of $867 per ton. The nitrogen fertilizer dropped below $900/ton for the first time since the last week of February 2022 when the price was $887/ton.

DAP had an average price of $1,039/ton, MAP $1,053/ton, 10-34-0 $904/ton, anhydrous $1,466/ton, UAN28 $611/ton and UAN28 $702/ton.

One fertilizer was slightly more expensive compared to last month but nothing sizeable. Potash had an average price of $885/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.94/lb.N, anhydrous $0.89/lb.N, UAN28 $1.09/lb.N and UAN32 $1.10/lb.N.

A recently released ag economy index showed farmers continue to be concerned about rising input prices. The Purdue University/CME Group Ag Economy Barometer was down 2 points to 97 (https://ag.purdue.edu/…).

The index of Future Expectations fell 5 points to 96, marking the lowest level for the index since October of 2016.

"Rising input costs and uncertainty about the future continue to weigh on farmer sentiment," said James Mintert, the barometer's principal investigator and director of Purdue's Center for Commercial Agriculture. "Many producers remain concerned about the ongoing escalation in production costs as well as commodity price volatility, which could lead to a cost/income squeeze in 2023."

The top concern for producers in the upcoming year continues to be input prices (43%), followed by input availability (21%), government policies (18%) and lower output prices (17%).

Most fertilizer prices are considerably higher than one year ago.

10-34-0 is 45% more expensive, MAP is 46% higher, DAP is 54% more expensive, urea 60% higher, both UAN28 and UAN32 is 67% more expensive, potash is 86% higher and anhydrous is 101% higher 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.

With lower fertilizer prices in the third week of June, it is almost a return to "normal" times with lower fertilizer prices after the spring planting/fertilizer application seasons. You can read it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Apr 4-8 2022	1040	1056	875	1031
May 2-6 2022	1057	1081	881	1001
May 30-Jun 3 2022	1056	1079	880	979
Jun 27-Jul 1 2022	1039	1053	885	867
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Apr 4-8 2022	901	1534	629	729
May 2-6 2022	906	1534	631	730
May 30-Jun 3 2022	905	1529	633	731
Jun 27-Jul 1 2022	904	1466	611	702

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

Follow him on Twitter @RussQuinnDTN

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