DTN Retail Fertilizer Trends
Urea Fertilizer Price Drops Below $600 Per Ton for First Time Since September 2021
OMAHA (DTN) -- Most average retail fertilizer prices continued to be down from the previous month in the fourth week of April 2023, according to sellers surveyed by DTN.
Prices for seven of the eight major fertilizers were lower compared to last month. DTN designates a significant move as anything 5% or more.
After a week off, anhydrous returned to lead fertilizer prices lower. The nitrogen fertilizer was 10% lower compared to last month and had an average price of $928 per ton.
Urea was 5% less expensive compared to last month. The nitrogen fertilizer had an average price of $595/ton. This was the first time since the third week of September 2021 that the price of urea was below the $600-per-ton level. That week, the average urea price was $585/ton.
Six other fertilizers were just slightly lower compared to last month. MAP had an average price of $804/ton, potash $624/ton, 10-34-0 $740/ton, UAN28 $426/ton and UAN32 $508/ton.
One fertilizer, meanwhile, was slightly higher compared to last month. DAP had an average price of $827/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.65/lb.N, anhydrous $0.57/lb.N, UAN28 $0.76/lb.N and UAN32 $0.79/lb.N.
Tim Schnakenberg, a University of Missouri Extension agronomist, reminds producers a simple soil test can help forage producers avoid the costly guessing game of how much fertilizer to purchase and apply. He recommends testing soils every three or four years (https://extension.missouri.edu/….
"If you're not soil testing, you're already behind," Schnakenberg said.
While 2023 fertilizer prices are down from last year's highs, the prices are still high enough that a soil test can be beneficial to producers' bottom lines.
Grazing and haying affect nitrogen levels differently, he said.
Cows that graze pastures recycle nitrogen through the soil with their manure and urine. Legumes that grow in grazed pastures also add nitrogen to the soil, he said.
Putting up a hay crop also removes a considerable amount of nutrients, Schnakenberg said.
In addition to soil testing to see how much fertilizer is needed, there are other practices that can save money on nutrients, he said. These include liming the soil, utilizing manure, injecting manure or commercial fertilizer into the soil, using nitrogen stabilizers and splitting applications to reduce fertilizer losses.
All fertilizers are now lower by double digits compared to one year ago. 10-34-0 is 18% less expensive, DAP is 21% lower, MAP is 26% less expensive, potash is 29% lower, UAN32 is 31% less expensive, UAN28 is 33% lower, anhydrous is 40% less expensive and urea is 41% 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/….
Anhydrous' average retail fertilizer price dropped below $1,000/ton for the first time since the last week of October 2021 at $995/ton. You can read it here: https://www.dtnpf.com/….
|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|
|Apr 24-28 2023||827||804||624||595|
|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|
|Apr 24-28 2023||740||928||426||508|
Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
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