DTN Retail Fertilizer Trends

Retail Fertilizer Prices Mixed; More Are Lower Than Higher

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The price of urea fertilizer was 5% lower compared to last month, with an average price of $557/ton. (DTN chart)

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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Russ Quinn