DTN Retail Fertilizer Trends

OMAHA (DTN) -- All average retail fertilizer prices moved lower again the fourth week of August 2022, according to sellers surveyed by DTN. This marks a full month all eight of the major fertilizers are less expensive compared to a month ago.

Only one fertilizer was significantly lower, which DTN designates as anything 5% or more.

Anhydrous was 7% less expensive than last month. The nitrogen fertilizer's average price was $1,331 per ton.

The remaining seven fertilizers were just slightly lower. DAP had an average price of $972 per ton, MAP $1,026/ton, potash $880/ton, urea $804/ton, 10-34-0 $869/ton, UAN28 $575/ton and UAN32 $676/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.87/lb.N, anhydrous $0.81/lb.N, UAN28 $1.03/lb.N and UAN32 $1.06/lb.N.

The European natural gas supply situation is influencing fertilizer production in the continent. Russia's invasion of Ukraine earlier this year has pushed natural gas prices to record highs.

As a result, Yara International announced last week it is curtailing fertilizer production in Europe.

The fertilizer manufacturer will limit production an annual capacity equivalent of 3.1 million metric tons (mmt) on ammonia and 4 mmt on finished products (1.8 mmt urea, 1.9 mmt nitrates and 0.3 mmt NPK). This lowers Yara's total European ammonia capacity utilization to around 35%.

"Yara will, where possible, use its global sourcing and production system to optimize operations and meet customer demand, including continued nitrate production using imported ammonia when feasible," Yara said in a news release on Aug. 25. "Yara will continue to monitor the situation and adapt to market conditions going forward."

Due to skyrocketing natural gas prices, Europe this summer has lost about half of its ammonia production and 33% of its nitrogen fertilizer production, according to London-based research firm CRU Group.

Despite lower prices in recent months, all fertilizers continue to be considerably higher in price than one year earlier.

MAP is 36% more expensive, 10-34-0 is 38% higher, DAP is 40% more expensive, urea is 44% higher, potash and UAN28 are both 55% more expensive, UAN32 is 61% higher and anhydrous is 78% 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.

In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….

Canada is urging farmers to reduce fertilizer emissions to curb greenhouse gasses, according to Dow Jones. You can read more about that here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Jul 25-20 2022	1005	1041	887	836
Aug 22-26 2022	972	1026	880	804
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Jul 25-20 2022	894	1431	596	693
Aug 22-26 2022	869	1331	575	676

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

Follow him on Twitter @RussQuinnDTN

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