OMAHA (DTN) -- Retail fertilizer prices continued to be evenly split the first week of October 2023 with half lower and half higher compared to last month, according to sellers surveyed by DTN.
Prices for four of the eight major fertilizers were higher than last month while the other four were lower. DTN designates a significant move as anything 5% or more.
Anhydrous was 14% higher compared to last month with an average price of $790 per ton. Once again, both MAP and UAN32 were 6% more expensive compared to last month. MAP had an average price of $791/ton, while UAN32 was $414/ton.
One fertilizer was just slightly higher in price compared to last month. Urea had an average price of $573/ton.
Prices for the other four fertilizers were just slightly lower compared to the prior month. DAP had an average price of $705/ton, potash $508/ton, 10-34-0 $609/ton and UAN28 $354/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.62/lb.N, anhydrous $0.48/lb.N, UAN28 $0.63/lb.N and UAN32 $0.65/lb.N.
A new fertilizer production facility is being constructed in Grand Island, Nebraska, according to News Channel Nebraska. GMCO Growth Technologies broke ground on the plant in June, and it is expected to be completed by June 2024.
Right now, storage tanks and production facility are being constructed.
The facility will produce Nitro-Mag, which lead agronomist Marcus Dennis said is the first real innovation in fertilizer in more than 25 years. The product provides plants with a form of nitrogen they can assimilate directly, according to Dennis.
"It has a lot of benefits, it's more efficient in the plant," Dennis said. "It has been shown to add yield, and it adds bigger roots."
Initially, the plant will employ four people, with plans to double the staff in three years. For now, the product is being produced at a temporary location in Hastings, Nebraska.
All fertilizers are now lower by double digits compared to one year ago. MAP is 21% lower, DAP is 25% less expensive, 10-34-0 is 25% lower, urea is 31% less expensive, both UAN28 and UAN32 are 37% lower, potash is 42% lower and anhydrous is 43% less expensive 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/….
Much price variability can be seen in nitrogen prices over the last 15 years, according to an article from the University of Illinois Extension Farmdoc Daily. You can read about it here: https://www.dtnpf.com/….
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Russ Quinn can be reached at Russ.Quinn@dtn.com
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