DTN Retail Fertilizer Trends

Most Fertilizer Prices Lower Again Third Week of May 2023

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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Anhydrous was 10% less expensive compared to last month with an average price of $895 per ton during the third week of May 2023. (DTN chart)

OMAHA (DTN) -- Average retail prices for most fertilizers were lower again the third week of May 2023, according to sellers surveyed by DTN.

Prices for five of the eight major fertilizers were lower compared to last month. Only one fertilizer was substantially less expensive. DTN designates a significant move as anything 5% or more.

Leading fertilizers lower in price was anhydrous. The nitrogen fertilizer was 10% less expensive compared to last month with an average price of $895 per ton.

Four other fertilizers (potash, urea, 10-34-0, UAN28) were slightly lower looking back a month. Potash had an average price of $627 per ton, urea $619/ton, 10-34-0 $739/ton and UAN28 $421/ton.

The remaining three fertilizers were slightly higher in price than a month ago. DAP had an average price of $829/ton, MAP $831/ton and UAN32 $514/ton.

On a price per pound of nitrogen basis, the average urea price was $0.67/lb.N, anhydrous $0.55/lb.N, UAN28 $0.75/lb.N and UAN32 $0.80/lb.N.

The total number of fertilizer carloads originated by Class I railroads for the week ended May 6, 2023, was 6,550 -- an all-time high since the Surface Transportation Board (STB) began collecting the data in March of 2017, according to the May 18 USDA Grain Transportation Report (https://www.ams.usda.gov/…).

For the first 12 weeks of 2023, fertilizer carloads were 2% fewer than the prior five-year average. However, in the weeks since then (weeks 13 through 19), fertilizer carloads have risen, and are now 3% above the five-year average.

"The rise in fertilizer carloads comes amid lower fertilizer prices from last year, higher corn plantings than last year and restricted upbound barge traffic on the Mississippi River due to flooding," the report said.

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 23% less expensive, potash is 29%, UAN32 are 30% lower, UAN28 is 34% less expensive, urea is 38% 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/….

Fertilizer costs in 2023 are considerably less than in 2022, according to Purdue University Extension crop budgets. You can read about it here: https://www.dtnpf.com/….

DRY
Date Range DAP MAP POTASH UREA
May 16-20 2022 1059 1083 878 993
Jun 13-Jun 17 2022 1046 1074 879 961
Jul 11-15 2022 1030 1052 885 861
Aug 8-12 2022 982 1032 881 812
Sep 5-9 2022 952 1009 878 800
Oct 3-7 2022 934 997 869 826
Oct 31-Nov 4 2022 930 981 857 826
Nov 28-Dec 2 2022 926 960 831 795
Dec 26-Dec 30 2022 885 891 765 751
Jan 23-Jan 27 2023 855 865 714 708
Feb 20-Feb 24 2023 836 834 673 666
Mar 20-Mar 24 2023 821 812 645 627
Apr 17-21 2023 826 812 643 626
May 15-19 2023 829 831 627 619
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
May 16-20 2022 906 1529 634 731
Jun 13-Jun 17 2022 905 1516 630 730
Jul 11-15 2022 904 1449 606 701
Aug 8-12 2022 881 1365 578 678
Sep 5-9 2022 866 1357 579 658
Oct 3-7 2022 813 1390 565 652
Oct 31-Nov 4 2022 759 1426 583 680
Nov 28-Dec 2 2022 753 1416 583 681
Dec 26-Dec 30 2022 751 1325 573 679
Jan 23-Jan 27 2023 754 1237 523 630
Feb 20-Feb 24 2023 741 1124 470 554
Mar 20-Mar 24 2023 740 1036 429 514
Apr 17-21 2023 740 995 423 507
May 15-19 2023 739 895 421 514

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

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Russ Quinn