DTN Retail Fertilizer Trends

All Fertilizer Prices Down Slightly for Fourth Consecutive Week

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The average retail price of potash during the second full week of August 2024 was $501 per ton, down $2 per ton from $503 per ton a month ago. The price of potash is now 10% lower than it was a year ago. (DTN chart)

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

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Russ Quinn