DTN Retail Fertilizer Trends

Most Fertilizer Prices March Higher; Some Show Signs of Retreat

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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The average retail price of UAN28 declined $9 per ton from last month to $233/ton, and while it's one of three fertilizers to see a month-over-month decline, it's still 8% higher than last year. (DTN chart)

OMAHA (DTN) -- For the most part, retail fertilizer prices remain slightly higher the first week of August 2018, although some are showing downward movement compared to last month, according to retailers surveyed by DTN.

Just like last week, five of the eight major fertilizers were higher compared to last month, but none increased by a significant amount. DAP had an average price of $487 per ton, MAP $507/ton, potash $356/ton, urea $363/ton and 10-34-0 $445/ton.

Three fertilizers were slightly lower from the previous month, but the move to the low side was subdued. Anhydrous had an average price of $482/ton, UAN28 $233/ton and UAN32 $271/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.29/lb.N, UAN28 $0.42/lb.N and UAN32 $0.42/lb.N.

Some farmers begin locking in fall fertilizer prices for the upcoming growing season around this time of year, but DTN finds many nutrient buying strategies this year include a wait-and-see approach.

Wayne Martin, a corn and soybean farmer from Shelby, Iowa, told DTN he hasn't been in contact with his fertilizer retailers.

"I normally don't buy fertilizer until December anyway," Martin said.

He has faced a challenging growing season this year in southwestern Iowa. Hail damaged his crops earlier in the growing season, and he expects corn production to be half of his typical harvest.

Martin has also had to battle a new soybean pest that arrived after the hail, the soybean gall midge. DTN/PF's Pam Smith wrote about Martin's fight with this tiny but destructive insect earlier in this month. You can find that story here: https://www.dtnpf.com/…

Martin said its going "to be hard to get in the mood to spend money" for the next growing season with low grain prices and the bad greensnap his corn has seen this year.

All eight of the major fertilizers are now higher compared to last year with prices shifting higher in recent months. 10-34-0 is 1% higher, potash is 5% more expensive, both UAN28 and UAN32 are 8% higher, MAP is 9% higher, DAP is 12% more expensive, urea is 18% higher and anhydrous is 19% more expensive compared to last year.

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 7-11 2017 434 462 339 311
Sep 4-8 2017 431 458 338 302
Oct 2-6 2017 425 453 348 323
Oct 27-Nov 3 2017 434 455 348 330
Nov 27-Dec 1 2017 435 460 342 340
Dec 25-29 2017 448 488 344 348
Jan 22-26 2018 458 492 344 353
Feb 19-23 2018 460 496 345 357
Mar 19-23 2018 469 504 349 368
Apr 16-20 2018 484 502 353 368
May 14-18 2018 483 505 354 368
Jun 11-15 2018 484 505 354 364
Jul 9-13 2018 485 504 354 366
Aug 6-10 2018 487 507 356 363
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Aug 7-11 2017 440 419 224 258
Sep 4-8 2017 418 413 215 248
Oct 2-6 2017 413 399 208 243
Oct 27-Nov 3 2017 405 401 208 262
Nov 27-Dec 1 2017 403 417 216 271
Dec 25-29 2017 407 468 216 254
Jan 22-26 2018 415 490 226 261
Feb 19-23 2018 416 495 231 265
Mar 19-23 2018 422 503 236 269
Apr 16-20 2018 431 508 240 275
May 14-18 2018 439 510 241 276
Jun 11-15 2018 440 503 241 277
Jul 9-13 2018 443 505 242 279
Aug 6-10 2018 445 482 233 271

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

Follow him on Twitter @RussQuinnDTN

(BAS/KD/AG)

Russ Quinn