DTN Retail Fertilizer Trends

7 Fertilizer Prices Continue Higher During First Week of November

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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Potash was the only fertilizer to see a decline in retail price during the first week of November 2024. Its average price of $444 per ton was down $4 per ton from a month ago. Prices for the other seven of the eight major fertilizers were slightly higher than last month. (DTN chart)

OMAHA (DTN) -- Average retail prices of most fertilizers continued to move higher during the first week of November 2024, according to sellers surveyed by DTN.

Prices for seven of the eight major fertilizers were up from last month, while the price of the eighth was down slightly. But once again, no fertilizer had a significant price increase or decrease, which DTN designates as anything 5% or more.

The seven fertilizers with slightly higher prices were DAP, which had an average price of $739 per ton, MAP $810/ton, urea $496/ton, 10-34-0 $607/ton, anhydrous $711/ton, UAN28 $322/ton and UAN32 $364/ton.

The one fertilizer that was slightly less expensive than last month was potash, which had an average price of $444/ton.

On a price per pound of nitrogen basis, the average urea price was $0.54/lb.N, anhydrous $0.43/lb.N, UAN28 $0.58/lb.N and UAN32 $0.57/lb.N.

Typical corn and soybean commercial farms in the upper Midwest will likely see financial losses for both 2024 and 2025, according to a recent article by DTN Ag Policy Editor Chris Clayton (https://www.dtnpf.com/…).

The Center for Farm Financial Management at the University of Minnesota highlighted the state of farm finances as the American Bankers Association kicked off its annual Agricultural Bankers Conference this week in Milwaukee, Wisconsin. Reports from 3,100 farms project a -$24,000 average net farm income for 2024 and, looking ahead, project an average net farm income of -$12,000 for 2025.

The one bit of good news came in the corn projections, as even though the farms showed negative returns, expenses, including fertilizer, are projected to be lower.

"Per-acre expenses came in at $955 an acre, down from $1,017 per acre in 2023," Clayton wrote. "The big difference was an $82 drop in fertilizer costs per acre from year-to-year."

Prices for all except two fertilizers are lower compared to one year ago. MAP is 1% higher while DAP is 4% more expensive than last year.

The remaining six fertilizers are lower. 10-34-0 is 10% lower, UAN28 is 11% less expensive, both potash and UAN32 are 13% lower, and both urea and anhydrous are now 14% lower compared 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/….

Another work stoppage at Canadian West Coast ports could have a negative impact on fertilizer prices, especially potash. You can read about it here: https://www.dtnpf.com/….

DRY
Date Range DAP MAP POTASH UREA
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
Sep 9-13 2024 735 808 464 489
Oct 7-11 2024 735 805 448 485
Nov 4-8 2024 739 810 444 496
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
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
Sep 9-13 2024 596 684 329 351
Oct 7-11 2024 590 688 316 350
Nov 4-8 2024 607 711 322 364

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

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Russ Quinn