OMAHA (DTN) -- All average retail fertilizer prices were down from last month in the fourth full week of March 2023, according to sellers surveyed by DTN. However, after weeks of prices for several fertilizers being considerably lower, only one fertilizer -- anhydrous -- was substantially less expensive.
Once again, all eight of the major fertilizer prices are lower compared to last month. DTN designates a significant move as anything 5% or more.
Leading the way lower was anhydrous. The nitrogen fertilizer was 5% lower compared to last month and had an average price of $1,026 per ton.
The remaining seven fertilizers were all just slightly lower compared to last month. DAP had an average price of $818 per ton, MAP $810/ton, potash $644/ton, urea $626/ton, 10-34-0 $741/ton, UAN28 $428/ton and UAN32 $513/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.68/lb.N, anhydrous $0.63/lb.N, UAN28 $0.76/lb.N and UAN32 $0.80/lb.N.
In a recent news release, The Fertilizer Institute (TFI) President and CEO Cory Rosenbusch praised Congress for introducing the Advancing Cutting Edge (ACE) Agriculture Act. The legislation aims to help farmers by focusing USDA research on critical areas such as soil health and increasing crop yields.
"With our global population expected to hit 10 billion people by 2050, farmers are constantly being asked to do more with less, while also being good environmental stewards by taking care of the land that takes care of us," Rosenbusch said. "The fertilizer industry puts a strong focus on research and the farmer adoption of 4R Nutrient Stewardship practices and other methods that improve soil health, encourage the responsible and efficient use of fertilizer, increase crop yields, and minimize impacts to the environment, and welcomes additional government research into these areas."
The fertilizer industry has long supported agricultural research through the 4R Research Fund, as well as independent research that has focused on multiple crops, geographical locations and methods to show farmers the beneficial outcomes of new technologies and farming practices, according to the release. In addition to the industry efforts through the 4R Research Fund, TFI is a year and half into a drive to reach a nationwide goal of having 70 million U.S. farming acres under 4R nutrient stewardship management by 2030. The 4Rs stand for right source, right rate, right time and right place.
All fertilizers are now double digits lower compared to one year ago. 10-34-0 is 17% less expensive, DAP is 21% lower, MAP is 23% less expensive, potash is 26% lower, UAN32 is 28% less expensive, both anhydrous and UAN28 are 33% lower and urea is 39% less expensive 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.
In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….
Fertilizer prices for the third week of March show all fertilizers are again lower compared to last month with half of the fertilizers down a significant amount. You can read more about it here: https://www.dtnpf.com/….
|Mar 28-Apr 1 2022||1033||1045||868||1022|
|Apr 25-29 2022||1049||1082||881||1004|
|May 23-27 2022||1056||1082||879||989|
|Jun 20-Jun 24 2022||1040||1058||885||902|
|Jul 18-22 2022||1007||1043||887||836|
|Aug 15-19 2022||978||1026||881||807|
|Sep 12-16 2022||952||1009||877||808|
|Oct 10-14 2022||925||986||863||824|
|Nov 7-11 2022||931||980||853||812|
|Dec 5-Dec 9 2022||920||950||819||784|
|Jan 2-Jan 6 2023||876||879||752||739|
|Jan 30-Feb 3 2023||847||862||704||698|
|Feb 27-Mar 3 2023||827||827||666||648|
|Mar 27-31 2023||818||810||644||626|
|Mar 28-Apr 1 2022||896||1526||637||711|
|Apr 25-29 2022||906||1534||631||730|
|May 23-27 2022||906||1531||634||731|
|Jun 20-Jun 24 2022||905||1497||616||716|
|Jul 18-22 2022||894||1431||598||696|
|Aug 15-19 2022||878||1336||576||676|
|Sep 12-16 2022||861||1369||578||665|
|Oct 10-14 2022||759||1417||576||670|
|Nov 7-11 2022||758||1434||582||680|
|Dec 5-Dec 9 2022||751||1415||581||681|
|Jan 2-Jan 6 2023||754||1302||573||673|
|Jan 30-Feb 3 2023||754||1223||518||583|
|Feb 27-Mar 3 2023||741||1077||444||525|
|Mar 27-31 2023||741||1026||428||513|
Russ Quinn can be reached at Russ.Quinn@dtn.com
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