DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continue to see significant price declines, according to prices tracked by DTN for the fourth week of January 2023. This trend has been in place since the beginning of the year.

Seven of the eight major fertilizers are lower compared to last month. Of these seven, five fertilizers were substantially lower, which DTN designates as a price change of 5% or more.

Leading the way lower is UAN28. The nitrogen fertilizer was 9% lower in price compared to last month and had an average price of $523/ton.

Potash, anhydrous and UAN32 were 7% less expensive looking back to last month. Potash had an average price of $714/ton, anhydrous $1,237/ton and UAN32 $630/ton.

Urea was 6% lower in price compared to the prior month. It had an average price of $708/ton.

Both DAP and MAP were slightly lower looking back to last month. DAP had an average price of $855/ton while MAP was $865/ton.

One fertilizer was just slightly higher in price compared to a month earlier. 10-34-0 had an average price of $754/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.77/lb.N, anhydrous $0.75/lb.N, UAN28 $0.93/lb.N and UAN32 $0.98/lb.N.

A recent University of Minnesota blog post titled "Nutrient management on owned vs. rented ground" looked at the various factors farmers should consider when applying fertilizer on owned ground versus rented ground.

Dan Kaiser, University of Minnesota Extension nutrient management specialist and Jeff Vetsch, University of Minnesota soil scientist, wrote that a "build and maintain" strategy may not be the best option for farmers renting ground, especially considering short-term land tenure. However, not applying any fertilizer and allowing soil tests to drop to low levels isn't good either.

"Applying only what the crop needs, which is what we call the "sufficiency approach," makes more sense in situations where you are willing to accept more risk or situations where soils cannot economically be built up to near the 100% critical level," they wrote.

While the sufficiency approach doesn't center on building soil test values, suggested fertilizer rates are typically in excess of crop removal for low-testing soils, with the goal of building soils to near medium soil test ranges. Maintaining soil tests near the 95% critical level makes more sense for renters because a fertilizer application is more likely to be profitable.

Regardless of whether the land is owned or rented, the authors remind farmers about the importance soil testing plays in applying nutrients.

To read the entire University of Minnesota report, click on the following link https://blog-crop-news.extension.umn.edu/….

All fertilizers are now lower compared to one year ago. DAP is 3% lower, both MAP and 10-34-0 are 8% less expensive, UAN32 is 10% lower, potash is 12% less expensive, UAN28 is 13% lower, anhydrous 17% less expensive and urea is 22% lower compared to a year prior.

DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.

Retail fertilizer prices tracked by DTN show prices are the lowest they have been in 15 months. You can read it here: https://www.dtnpf.com/….

DTN recently published a series titled "Global Fertilizer Outlook" listed here:

To see Global Fertilizer Outlook - 1, go to: https://www.dtnpf.com/…

To see Global Fertilizer Outlook - 2, go to: https://www.dtnpf.com/…

To see Global Fertilizer Outlook - 3, go to: https://www.dtnpf.com/…

DRY
Date Range	DAP	MAP	POTASH	UREA
Jan 24-28 2022	877	936	814	910
Feb 21-25 2022	874	934	815	885
Mar 21-25 2022	1014	1018	850	976
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
Sep 5-9 2022	952	1009	878	800
Oct 3-7 2022	934	997	869	826
Oct 31-Nov 4 2022	930	981	857	826
Nov 28-Dec 2 2022	926	960	831	795
Dec 26-Dec 30 2022	885	891	765	751
Jan 23-Jan 27 2023	855	865	714	708
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
May 16-20 2022	906	1529	634	731
Jun 13-Jun 17 2022	905	1516	630	730
Jul 11-15 2022	904	1449	606	701
Aug 8-12 2022	881	1365	578	678
Sep 5-9 2022	866	1357	579	658
Oct 3-7 2022	813	1390	565	652
Oct 31-Nov 4 2022	759	1426	583	680
Nov 28-Dec 2 2022	753	1416	583	681
Dec 26-Dec 30 2022	751	1325	573	679
Jan 23-Jan 27 2023	754	1237	523	630

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

Follow him on Twitter @RussQuinnDTN

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