DTN Retail Fertilizer Trends

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

Follow him on Twitter @RussQuinnDTN

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