OMAHA (DTN) -- Average retail fertilizer prices tracked by DTN continued to move lower in the second week of August 2022.
All eight of the major fertilizers are now lower compared to a month ago. In addition, half of the fertilizers are now down a considerable amount, which DTN designates as anything 5% or more.
Urea was 6% lower compared to last month. The nitrogen fertilizer had an average price of $812 per ton. Anhydrous was also down 6% from last month and had an average price of $1,365/ton.
Both DAP and UAN28 were 5% less expensive compared to a month ago. DAP had an average price of $982/ton, while UAN28 is at $578/ton.
DAP dropped below the $1,000-per-ton level for the first time since the second week of March 2022. That week, the price was $970/ton.
The remaining four fertilizers were just slightly lower. MAP had an average price of $1,032/ton, potash $881/ton, 10-34-0 $8881/ton and UAN32 $678/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.88/lb.N, anhydrous $0.83/lb.N, UAN28 $1.03/lb.N and UAN32 $1.06/lb.N.
The recently passed Inflation Reduction Act will deliver $19.5 billion in new conservation funding. According to a USDA news release (https://www.usda.gov/…), the funding will improve opportunities for nutrient management.
USDA's Natural Resources Conservation Service (NRCS) will target funding, increase program flexibilities and launch a new outreach campaign to promote nutrient management's economic benefits. This is in addition to expanding partnerships to develop nutrient management plans.
"Agriculture has long been at the forefront of our fight against climate change," Agriculture Secretary Tom Vilsack said in the release. "From climate-smart agriculture, to supporting healthy forests and conservation, to tax credits, to biofuels, infrastructure and beyond, the Inflation Reduction Act provides USDA with significant additional resources to continue to lead the charge."
Despite lower prices in recent months, all fertilizers continue to be considerably higher in price than one year earlier.
MAP is 37% more expensive, 10-34-0 is 40% higher, DAP is 41% more expensive, urea is 46% higher, potash is 56% more expensive, UAN28 is 58% higher, UAN32 is 62% more expensive and anhydrous is 85% 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.
In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….
Nutrien announced last week its interim CEO was assuming the role of president and CEO permanently. You can read about that here: https:///…www.dtnpf.com/agriculture/web/ag/crops/article/2022/08/10/urea-anhydrous-lead-fertilizers.
|Aug 9-13 2021||695||755||563||555|
|Sep 6-10 2021||699||757||575||558|
|Oct 4-8 2021||736||829||675||653|
|Nov 1-5 2021||814||900||750||820|
|Nov 29-Dec 3 2021||836||918||777||873|
|Dec 27-31 2021||864||931||809||911|
|Jan 24-28 2022||877||936||814||910|
|Feb 21-25 2022||874||934||815||885|
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|Apr 18-22 2022||1050||1079||879||1012|
|May 16-20 2022||1059||1083||878||993|
|Jun 13-Jun 17 2022||1046||1074||879||961|
|Jul 11-15 2022||1030||1052||885||861|
|Aug 8-12 2022||982||1032||881||812|
|Aug 9-13 2021||630||740||366||418|
|Sep 6-10 2021||631||750||371||422|
|Oct 4-8 2021||639||803||400||456|
|Nov 1-5 2021||702||1113||545||604|
|Nov 29-Dec 3 2021||756||1313||575||661|
|Dec 27-31 2021||795||1428||583||679|
|Jan 24-28 2022||817||1492||601||699|
|Feb 21-25 2022||837||1488||602||703|
|Mar 21-25 2022||881||1523||622||698|
|Apr 18-22 2022||906||1534||631||730|
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|Jun 13-Jun 17 2022||905||1516||630||730|
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|Aug 8-12 2022||881||1365||578||678|
Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
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