DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the first week of May 2024 show more fertilizers were lower in price than higher in price compared to a month ago. This was the first time in three months, since the first week of February 2024, that more fertilizers were lower than higher.

For the first time in five weeks, a fertilizer moved a considerable amount in either direction. DTN designates a significant move as anything 5% or more.

Urea was 5% lower in price looking back to last month. The nitrogen fertilizer had an average price of $557/ton.

Four fertilizers were slightly less expensive compared to last month. DAP had an average price of $789/ton, MAP $831/ton, potash $511/ton and anhydrous $792/ton.

Three fertilizers were slightly higher in price looking back a month. 10-34-0 had an average price of $642/ton, UAN28 $364/ton and UAN32 $418/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.61/lb.N, anhydrous $0.48/lb.N, UAN28 $0.65/lb.N and UAN32 $0.65/lb.N.

Fertilizer manufacturer Mosaic said lower fertilizer prices led to a 26% drop in quarterly sales for the company to $2.7 billion, according to Dow Jones. The fertilizer company said farmers globally remain profitable, despite rising supplies of corn and soybeans and falling grain prices around the world.

The company said they expect more fertilizer orders from growers in Southeast Asia, India and Brazil.

"Certain parts of the world have gone through two years of under-application of fertilizers, and growers are seeking to replenish soil nutrients," the company said.

Most fertilizers are lower compared to one year ago, but one fertilizer is slightly higher. MAP is 1% higher looking back a year.

The remaining fertilizers are lower. DAP is 5% less expensive, both 10-34-0 and anhydrous are now 13% lower, UAN28 is 14% less expensive, urea is 16% lower and both potash and UAN32 are now 19% 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/….

The U.S. Commerce Department announced plans recently to raise tariffs on phosphorus fertilizer imported from Morocco from 2.12% to 14.21%, according to DTN. You can read about it here: https://www.dtnpf.com/….

Dry
Date Range	DAP	MAP	POTASH	UREA
May 8-12 2023	828	826	627	664
June 5-9 2023	822	832	618	622
July 3-7 2023	824	827	619	615
July 31-Aug 4 2023	766	773	579	572
Aug 28-Sep 1 2023	730	736	518	563
Sep 25-29 2023	703	777	508	570
Oct 23-27 2023	713	799	507	574
Nov 20-24 2023	713	811	512	570
Dec 18-22 2023	721	815	517	537
Jan 15-19 2024	727	810	510	530
Feb 12-16 2024	739	809	504	529
Mar 11-15 2024	771	817	505	566
Apr 8-12 2024	791	831	514	587
May 6-10 2024	789	831	511	557
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
May 8-12 2023	739	910	423	517
June 5-9 2023	739	787	411	478
July 3-7 2023	730	752	396	466
July 31-Aug 4 2023	713	638	378	411
Aug 28-Sep 1 2023	607	680	355	391
Sep 25-29 2023	610	767	353	413
Oct 23-27 2023	610	825	360	418
Nov 20-24 2023	583	833	338	402
Dec 18-22 2023	599	807	342	402
Jan 15-19 2024	601	770	334	391
Feb 12-16 2024	610	771	336	392
Mar 11-15 2024	622	789	355	397
Apr 8-12 2024	640	795	363	417
May 6-10 2024	642	792	364	418

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

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