DTN Retail Fertilizer Trends

UAN28, Urea Lead Fertilizer Prices Lower

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The average retail price of urea at $543 per ton was 5% lower in the first week of December 2023 compared to last month. (DTN chart)

OMAHA (DTN) -- Average retail fertilizer prices continued to be mixed in the first week of December 2023, according to sellers surveyed by DTN.

Prices for five of the eight major fertilizers were lower than last month, while prices for the remaining three fertilizers were slightly higher.

Two fertilizers had a notable price move compared to last month. DTN designates a significant move as anything 5% or more. UAN28 was down 6% from last month and had an average price of $340 per ton. Urea, meanwhile, was 5% lower compared to a month earlier with an average price of $543 per ton.

Three fertilizers were down just slightly. DAP had an average price of $713 per ton, 10-34-0 $595/ton and UAN32 $409/ton.

Prices for the remaining three fertilizers were just slightly higher compared to last month. MAP had an average price of $820/ton, potash $516/ton and anhydrous $847/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.60/lb.N, anhydrous $0.52/lb.N, UAN28 $0.61/lb.N and UAN32 $0.64/lb.N.

Fitch Ratings said it was going to increase its price assumption for several different types of fertilizers, according to Dow Jones. Higher year-to-date prices, higher natural gas prices and supportive supply and demand trends were the reasons for the change.

Higher natural gas prices and improving demand are the reasons ammonia prices could be higher. Urea might see a price increase due to higher year-to-date prices and increased natural gas price assumptions.

DAP prices could be higher with some supply restrictions. And DAP demand should be supported by the upcoming planting season in the U.S., according to the report.

One fertilizer with little outlook change was potash. Potash exports from Russia and Belarus have been recovering but remain below historical levels.

"Demand remains strong, supported by imports to China, despite seasonally weaker demand in Brazil," the report stated.

All fertilizers are now lower by double digits compared to one year ago. MAP is 14% lower, 10-34-0 is 21% less expensive, DAP is 23% lower, urea is 31% lower, potash is 37% lower, both anhydrous and UAN32 are 40% less expensive and UAN28 is 42% 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/….

Agricultural producers' sentiment increased for a second straight month, according to the Purdue University/CME Group Ag Economy Index. You can read about it here: https://www.dtnpf.com/….

DRY
Date Range DAP MAP POTASH UREA
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
May 22-26 2023 834 832 624 623
June 19-23 2023 825 827 618 619
July 17-21 2023 807 812 608 596
Aug 14-18 2023 745 762 558 573
Sep 11-15 2023 710 742 500 554
Oct 9-13 2023 711 794 506 575
Nov 6-10 2023 714 802 509 573
Dec 4-8 2023 713 820 516 543
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
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
May 22-26 2023 739 798 419 509
June 19-23 2023 734 755 402 471
July 17-21 2023 717 713 385 457
Aug 14-18 2023 705 630 359 399
Sep 11-15 2023 600 696 353 389
Oct 9-13 2023 613 804 356 418
Nov 6-10 2023 613 830 360 415
Dec 4-8 2023 595 847 340 409

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

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Russ Quinn