DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices moved in opposite directions the second week of May 2023, according to sellers surveyed by DTN.

Half of the fertilizers are higher compared to last month, while the other half is lower. One fertilizer is considerably higher, and another is notably lower. DTN designates a significant move as anything 5% or more.

Urea was 6% higher compared to last month. The nitrogen fertilizer had an average price of $664 per ton, back above $600/ton after one week of being below that level for the first time in a year and a half.

Slightly higher was DAP, MAP and UAN32 looking back to the prior month. DAP had an average price of $828/ton, MAP $826/ton and UAN32 $517/ton.

Leading fertilizer prices lower was anhydrous. The nitrogen fertilizer was 9% less expensive compared to last month, and it had an average price of $910/ton.

Three other fertilizers (potash, 10-34-0, UAN28) were slightly lower looking back a month. Potash had an average price of $627/ton, 10-34-0 $739/ton and UAN28 $423/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.72/lb.N, anhydrous $0.55/lb.N, UAN28 $0.75/lb.N and UAN32 $0.81/lb.N.

Every spring, I look at the Purdue University Extension Crop Cost and Return Guide to see what level fertilizer costs are at in their crop budgets. As one might imagine, fertilizer costs are lower in the spring of 2023 compared to the spring of 2022.

Purdue's crop budgets are arranged in three different yield levels -- low-productivity soil, average-productivity soil and high-productivity soil. Within each level, different crops are included. These crops are continuous corn, rotation corn, rotation soybeans, wheat and double-crop soybeans.

In 2022, the fertilizer cost in the crop cost and return guide ranged from $64/acre in low-productivity double-crop beans to $333/ton in high-productivity continuous corn. A year later, fertilizer costs run from $54/acre in double-crop beans on low-productivity soil to $272/acre in continuous corn on high-productivity soil.

The fertilizer savings from 2023 to 2022 would range from $10/acre to $61/acre in Purdue's crop budgets. In addition, this budget was released in March, so fertilizer prices have generally declined since then, so the actual fertilizer costs might even be slightly lower.

The 2023 Purdue Crop Cost and Return Guide can be found at https://ag.purdue.edu/…. The 2022 Purdue Crop Costs and Return Guide can be found at https://ag.purdue.edu/….

All fertilizers are now lower double digits compared to one year ago. 10-34-0 is 18% less expensive, DAP is 22% lower, MAP is 24% less expensive, both potash and UAN32 are 29% lower, UAN28 is 33% less expensive, urea is 34% 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/….

A fertilizer manufacturer is set to increase their production of a granular fertilizer, according to Dow Jones. You can read it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
May 9-13 2022	1059	1083	881	1000
Jun 6-Jun 10 2022	1057	1077	880	977
Jul 4-8 2022	1038	1053	885	866
Aug 1-5 2022	1003	1036	883	812
Aug 29-Sep 2 2022	952	1022	877	804
Sep 26-30 2022	947	1005	874	812
Oct 24-28 2022	930	986	862	827
Nov 21-25 2022	927	972	841	802
Dec 19-Dec 23 2022	890	909	790	757
Jan 16-Jan 20 2023	859	865	721	712
Feb 13-Feb 17 2023	838	857	692	686
Mar 13-Mar 17 2023	825	821	655	638
Apr 10-14 2023	821	809	642	625
May 8-12 2023	828	826	627	664
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
May 9-13 2022	906	1529	634	730
Jun 6-Jun 10 2022	905	1518	633	731
Jul 4-8 2022	904	1466	609	702
Aug 1-5 2022	892	1387	592	679
Aug 29-Sep 2 2022	866	1364	576	671
Sep 26-30 2022	861	1380	581	670
Oct 24-28 2022	759	1422	580	678
Nov 21-25 2022	753	1419	583	681
Dec 19-Dec 23 2022	751	1360	578	681
Jan 16-Jan 20 2023	755	1238	536	634
Feb 13-Feb 17 2023	754	1213	483	572
Mar 13-Mar 17 2023	740	1059	428	521
Apr 10-14 2023	740	1003	427	507
May 8-12 2023	739	910	423	517

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

Follow him on Twitter @RussQuinnDTN

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