DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continued mixed the fourth week of September 2022, according to retailers tracked by DTN. Five of the eight major fertilizers are slightly lower in price compared to a month ago, while the remaining three are a bit higher.

For the fourth week in a row, no fertilizers were significantly lower or higher. DTN designates a significant move as anything 5% or more.

Five of the eight major fertilizers were just slightly lower. DAP had an average price of $947/ton, MAP $1,005/ton, potash $874/ton, 10-34-0 $861/ton, and UAN32 $670/ton.

Three fertilizers were slightly more expensive looking back to last month. Urea had an average price of $812/ton, anhydrous $1,380/ton and UAN28 $581/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.88/lb.N, anhydrous $0.84/lb.N, UAN28 $1.04/lb.N and UAN32 $1.05/lb.N.

A report, "Weekly Farm Economics: Fertilizer Prices, Rates, and Costs for 2023," in the farmdoc Daily e-newsletter, had agricultural economists from the University of Illinois and Ohio State University take a closer look at where fertilizer prices could be for the next growing season. See it here: (https://farmdocdaily.illinois.edu/…). No surprises -- prices look to be higher for the next growing season compared to the previous one.

Research shows fertilizer costs for corn were $175/acre using USDA Agricultural Marketing News (AMS) fertilizer prices from Sept. 23, 2021. This price increases $72/acre to $247/acre using Sept. 22, 2022, fertilizer prices.

Soybean fertilizer costs also increased during this time from $85/acre to $110/acre. This would be an increase of $25/ton, according to the report.

One way to limit fertilizer costs would be to limit or eliminate applications where possible. Soil test to see where phosphorus and potash levels are and applications on high testing soils can be limited or even eliminated to help lower fertilizer costs.

"Reducing rates seem prudent in several situations. Phosphorus and potassium applications can be reduced or eliminated if soil test levels are sufficiently high," the report said. "Significant uncertainty exists concerning fertilizer prices moving into the spring."

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

MAP is 26% higher, both DAP and 10-34-0 are 31% more expensive, both potash and 10-34-0 are 35% more expensive, UAN28 is 50% higher, UAN32 is 51% higher and anhydrous is 76% 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/….

USDA Secretary Tom Vilsack announced last week $500 million in grants will be available to American-made fertilizer production in the week of price hikes due to the war in Ukraine. You can read it here: https://www.dtnpf.com/….

Dry
Date Range	DAP	MAP	POTASH	UREA
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
Aug 1-5 2022	1003	1036	883	812
Aug 29-Sep 2 2022	952	1022	877	804
Sep 26-30 2022	947	1005	874	812
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Aug 1-5 2022	892	1387	592	679
Aug 29-Sep 2 2022	866	1364	576	671
Sep 26-30 2022	861	1380	581	670

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

Follow him on Twitter @RussQuinnDTN

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