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
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
Sep 19-23 2022 950 1005 875 811
Oct 17-21 2022 930 986 863 826
Nov 14-18 2022 930 978 848 812
Dec 12-Dec 16 2022 902 939 807 779
Jan 9-Jan 13 2023 868 875 742 732
Feb 6-Feb 10 2023 840 857 694 693
Mar 6-Mar 10 2023 825 823 657 643
Apr 3-7 2023 818 809 642 625
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
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
Sep 19-23 2022 860 1376 578 670
Oct 17-21 2022 759 1419 576 678
Nov 14-18 2022 753 1415 584 681
Dec 12-Dec 16 2022 750 1415 579 682
Jan 9-Jan 13 2023 754 1245 563 650
Feb 6-Feb 10 2023 755 1220 499 579
Mar 6-Mar 10 2023 740 1059 436 522
Apr 3-7 2023 740 1002 423 507

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

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Russ Quinn