DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continued their downward trend the third week of August 2017, according to fertilizer retailers surveyed by DTN. All eight of the major fertilizers had lower prices compared to a month earlier.

Only two fertilizers had a significant price drop compared to a month earlier. UAN28 is down 6% compared to the previous month, while UAN32 was down 5%. UAN28 has an average price of $216/ton and UAN32 was at $251/ton.

The remaining six fertilizers had lower prices compared to last month, but none of the declines were significant. DAP had an average price of $434/ton, MAP $460/ton, potash $338/ton, urea $305/ton, 10-34-0 $419/ton and anhydrous $419/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.33/lb.N, anhydrous $0.26/lb.N, UAN28 $0.39/lb.N and UAN32 $0.39/lb.N.

Despite the continued decline in fertilizer prices, one Iowa farmer -- like most farmers interviewed by DTN for this column in recent weeks -- is going to wait to purchase his fertilizer needs. Because of a lack of storage for fertilizer on his farm and the fact that most retailers in his area are cash and carry, this farmer (who wished to remain anonymous) is waiting to buy fertilizer.

"I would love to price some fertilizer, but we have been dragging our feet pricing crop, so that eliminates pricing fertilizer," the farmer said.

In addition to these factors, the Iowa farmer said he wants to see how his 100% liquid fertilizer trial turns out before he decides what form of fertilizer to buy for the next growing season.

In this trial, anhydrous was applied in the spring, followed by in-furrow fertilizer at planting and then a foliar application at V6. The farmer is attempting to try to eliminate being dependent on custom applicators and find a more efficient way to deliver what fertilizer is needed, when it is needed.

"Next year, I would like to try another foliar or under canopy spray a week before tassel, but we will see how this year works first," he said.

All retail fertilizers are lower compared to a year earlier. Three of the eight major fertilizers are double digits lower.

Anhydrous is now 19% lower from a year ago while 10-34-0 is 18% less expensive and UAN32 is 12% lower. Both urea and UAN28 are 9% less expensive, DAP is 4% lower, MAP is 3% less expensive while potash is 2% lower.

DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.

DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.

Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.

DTN's average of retail fertilizer prices from a month earlier ($ per ton):

DRY
Date Range	DAP	MAP	POTASH	UREA
Aug 15-19 2016	452	471	333	337
Sept 12-16 2016	444	458	320	324
Oct 10-14 2016	438	452	313	316
Nov 7-11 2016	429	449	314	323
Dec 5-9 2016	434	443	318	333
Jan 2-6 2017	431	442	322	339
Jan 30-Feb 3 2017	430	448	329	353
Feb 27-Mar 03 2017	436	458	335	361
Mar 27-31 2017	438	465	338	356
Apr 24-28 2017	437	466	338	352
May 22-26 2017	436	471	340	343
Jun 19-23 2017	436	470	340	333
Jul 17-21 2017	435	464	339	309
Aug 14-18 2017	434	460	338	305
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Aug 15-19 2016	513	516	238	285
Sept 12-16 2016	474	496	233	272
Oct 10-14 2016	454	475	224	264
Nov 7-11 2016	447	468	217	256
Dec 5-9 2016	445	463	219	257
Jan 2-6 2017	436	465	218	255
Jan 30-Feb 3 2017	439	482	236	270
Feb 27-Mar 03 2017	440	502	246	279
Mar 27-31 2017	441	508	248	279
Apr 24-28 2017	437	509	247	280
May 22-26 2017	436	503	249	280
Jun 19-23 2017	435	497	243	273
Jul 17-21 2017	425	425	229	265
Aug 14-18 2017	419	419	216	251

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

Follow Russ Quinn on Twitter @RussQuinnDTN

(AG/BAS)

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