DTN Retail Fertilizer Trends

OMAHA (DTN) -- According to retail fertilizer prices tracked by DTN for the third week of May 2024, prices continue mostly lower. This was the third week in a row that most fertilizer prices were lower compared to last month.

As has been the case for two weeks in a row now, just one fertilizer changed an ample amount in either direction. DTN designates a significant move as anything 5% or more.

Urea was 5% lower in price compared to last month. The nitrogen fertilizer had an average price of $555/ton.

Five other fertilizers were slightly less expensive compared to last month. MAP had an average price of $829/ton, potash $509/ton, anhydrous $781/ton, UAN28 $359/ton and UAN32 $418/ton.

Two fertilizers were slightly higher in price compared to last month, but neither was up a substantial amount. DAP had an average price of $783/ton and 10-34-0 was at $642/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.60/lb.N, anhydrous $0.48/lb.N, UAN28 $0.64/lb.N and UAN32 $0.65/lb.N.

In the May 22 StoneX Media Fertilizer Update, Josh Linville, StoneX vice-president -- fertilizer, wrote North America nitrogen demand continues to suffer due to wet field conditions. Near-constant rains have kept farmers out of the fields and away from planters.

This situation, in turn, will delay sidedressing nitrogen demand as well.

"This has allowed nitrogen, which had been tightly supplied, more time to produce more tonnage domestically, import more tonnage from the international market and move product to where it needs to be when demand returns," Linville wrote.

All of these items have improved the nitrogen supply situation whereas before there were some questions about supply, he wrote.

All fertilizers are lower compared to one year ago. MAP is 1% lower, anhydrous is 2% less expensive, DAP is 6% lower, urea is 11% less expensive, 10-34-0 is 13% lower, UAN28 is 14% less expensive, UAN32 is 18% lower and potash is 19% 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/….

A post from the University of Minnesota Extension takes a closer look at if farmers overspend for fertilizer. You can read about it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
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
Jan 1-5 2024	725	812	513	534
Jan 29-Feb 2 2024	735	809	509	527
Feb 26-Mar 1 2024	756	812	505	536
Mar 25-29 2024	779	827	513	576
Apr 22-26 2024	781	830	513	585
May 20-24 2024	783	829	509	555
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
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
Jan 1-5 2024	599	789	336	394
Jan 29-Feb 2 2024	610	770	334	390
Feb 26-Mar 1 2024	615	769	341	394
Mar 25-29 2024	632	794	360	404
Apr 22-26 2024	641	794	364	418
May 20-24 2024	642	781	359	418

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

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