DTN Retail Fertilizer Trends

Anhydrous Leads Fertilizer Prices Lower in Early April 2022

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The average retail price of anhydrous declined 5% from last month to $1,002/ton. The nitrogen fertilizer is 35% less expensive than at this time last year. (DTN Chart)

OMAHA (DTN) -- Retail fertilizer continues to shift lower, according to prices tracked by DTN for the first full week of April 2023. The trend has been in place since the beginning of the year.

Seven of the eight major fertilizer prices are lower compared to last month. DTN designates a significant move as anything 5% or more.

Anhydrous leads the way lower once again. The nitrogen fertilizer was 5% less expensive compared to last month and had an average price of $1,002/ton.

Six fertilizers were all just slightly lower compared to last month. DAP had an average price of $818/ton, MAP $809/ton, potash $642/ton, urea $625/ton, UAN28 $423/ton and UAN32 $507/ton.

One fertilizer was unchanged compared to last month. 10-34-0 had an average price of $740/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.68/lb.N, anhydrous $0.61/lb.N, UAN28 $0.75/lb.N and UAN32 $0.79/lb.N.

Fertilizer prices continue to weaken, but they may be near the bottom, according to a report from CoBank. Many market participants are now expecting an economic slowdown in the second half of the year.

Several factors are at play for the decline in fertilizer prices. Europe idled capacity in 2022 as countries built up natural gas reserves amid Russian supply disruptions. Overall consumption was down in both Europe and the U.S. as unseasonably warm weather reduced residential and commercial heating demand.

"With the futures curve forecasting higher natural gas prices by summer, we may be now nearing a low point for nitrogen prices in 2023," according to the report.

The entire report can be viewed at https://www.cobank.com/….

All fertilizers are now double digits lower compared to one year ago. 10-34-0 is 18% less expensive, DAP is 21% lower, MAP is 23% less expensive, potash is 27% lower, UAN32 is 31% less expensive, UAN28 is 33% lower, anhydrous is 35% less expensive and urea is 39% 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.

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

The Fertilizer Institute (TFI) President and CEO Corey Rosenbusch praised Congress for introducing the Advancing Cutting Edge Agriculture Act. You can read it here: https://www.dtnpf.com/….

DRY
Date Range DAP MAP POTASH UREA
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
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
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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Russ Quinn