DTN Retail Fertilizer Trends
All Fertilizer Prices Down Slightly for Fourth Consecutive Week
OMAHA (DTN) -- Average retail prices for all eight major fertilizers were down again from last month during the second full week of August 2024, according to sellers surveyed by DTN.
This marks the fourth week in a row that prices for all fertilizers have been lower but not by a significant amount. DTN designates a significant move as anything 5% or more.
DAP had an average price of $745 per ton, MAP $817/ton, potash $501/ton and urea $500/ton. 10-34-0 had an average price of $640/ton, anhydrous $678/ton, UAN28 $337/ton and UAN32 $376/ton.
On a price per pound of nitrogen basis, the average urea price was $0.54/lb.N, anhydrous $0.41/lb.N, UAN28 $0.60/lb.N and UAN32 $0.59/lb.N.
In an Aug. 20 news release, Fertilizer Canada "urgently" called on the Canadian federal government to take immediate action to prevent a work stoppage on the CN Railway and the Canadian Pacific Kansas City (CPKC) railroad. A strike at both railways would have devastating impacts on Canada's economy, their reputation as a reliable trading partner and global food security, Fertilizer Canada stated in the release.
"The time for action is now," Karen Proud, president and CEO of Fertilizer Canada, said. "We can no longer patiently wait for a resolution. The federal government must protect Canada's economy and food security by ordering binding arbitration."
Disruptions affecting all rail service across the country will cost the fertilizer industry an estimated C$55 million to C$63 million per day in lost revenue, not including logistical and operational costs, Fertilizer Canada said. The railways move an average of 69,000 metric tons (mt) of fertilizer product per day, which is equivalent to four to five trains.
Seventy-five percent of all fertilizer produced and used in Canada is moved by rail, with minimal transportation alternatives. Fertilizer plays an important role in food security and is responsible for half of the world's current food production, according to the release.
Both railroads have served lockout notices to Teamsters Canada Rail Conference (TCRC) beginning Aug. 22, and TCRC has served a strike notice beginning Aug. 22 at 12:01 a.m. ET.
Prices for all but three fertilizers are lower compared to one year ago. Both UAN28 and UAN32 are 6% lower, 10-34-0 is 9% less expensive, potash is 10% lower and urea is 13% less expensive in price compared to a year prior.
DAP is 1% higher, MAP is 7% more expensive and anhydrous is 8% higher looking back to last year.
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 potential work stoppage involving Canadian railroads could affect the movement of fertilizer in Canada, according to a news release from Fertilizer Canada. You can read about it here: https://www.dtnpf.com/….
DRY | ||||
Date Range | DAP | MAP | POTASH | UREA |
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 |
Jun 17-21 2024 | 778 | 827 | 507 | 510 |
Jul 15-19 2024 | 756 | 821 | 503 | 506 |
Aug 12-16 2024 | 745 | 817 | 501 | 500 |
LIQUID | ||||
Date Range | 10-34-0 | ANHYD | UAN28 | UAN32 |
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 |
Jun 17-21 2024 | 642 | 705 | 350 | 389 |
Jul 15-19 2024 | 642 | 696 | 339 | 377 |
Aug 12-16 2024 | 640 | 678 | 337 | 376 |
Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on social platform X @RussQuinnDTN
(c) Copyright 2024 DTN, LLC. All rights reserved.