DTN Retail Fertilizer Trends

OMAHA (DTN) -- Most average retail fertilizer prices continued to be less expensive than last month during the first week of July 2022, according to fertilizer sellers surveyed by DTN. This lower trend has been in place for six weeks now.

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

Urea was again 11% lower compared to last month. The nitrogen fertilizer had an average price of $866 per ton.

DAP had an average price of $1,038/ton, MAP $1,053/ton, 10-34-0 $904/ton, anhydrous $1,466/ton, UAN28 $609/ton and UAN28 $702/ton.

One fertilizer was just slightly more expensive compared to last month. 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.

Declining crop prices are pushing fertilizer prices lower. This, in turn, has dragged fertilizer companies' stock prices lower after nearly two full years of higher prices, according to Dow Jones.

Investors and analysts are deciding if fertilizer stocks got swept up in the broad market selloff and could still reverse course, or if they were bid up too high in the panic after Russia invaded Ukraine and have further to fall.

"I'd be real careful with the fertilizer stocks right now," Matthew Tuttle, chief executive of Tuttle Capital Management told Dow Jones.

In mid-April, Mosaic and CF were up 99% and 55% for the year. While they have tumbled since, they remain among the best performers in the S&P 500 this year.

Dow Jones notes that Mosaic's stock has added 15% and CF's stock has gained 20% in 2022, compared with an 18% decline in the broader stock index. Other fertilizer companies have seen similar arcs.

On the retail level, most fertilizer prices continue to be considerably higher than one year earlier.

MAP is 44% more expensive, 10-34-0 is 45% higher, DAP is 51% more expensive, urea is 58% higher, UAN28 is 64% more expensive, UAN32 is 67% higher, potash is 80% more expensive and anhydrous is 100% 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.

The Purdue University/CME Group Ag Economy Barometer shows farmers continue to be concerned about rising input prices and the availability of these products. You can read it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Apr 11-15 2022	1047	1071	875	1017
May 9-13 2022	1059	1083	881	1000
Jun 6-Jun 10 2022	1057	1077	880	977
Jul 4-8 2022	1038	1053	885	866
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Apr 11-15 2022	906	1534	630	730
May 9-13 2022	906	1529	634	730
Jun 6-Jun 10 2022	905	1518	633	731
Jul 4-8 2022	904	1466	609	702

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

Follow him on Twitter @RussQuinnDTN

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