DTN Retail Fertilizer Trends

OMAHA (DTN) -- Fertilizer prices have been trending higher for several months now, and that trend continued this week with prices of all eight major fertilizers moving higher, according to retail fertilizer prices tracked by DTN for the second week of Jan. 2019.

While all fertilizers were higher compared to last month, none of the fertilizers were up a notable amount, which DTN considers a price move of 5% or more. DAP had an average price of $512/ton, up $4; MAP $534/ton, up $2; potash $383/ton, up $6; urea $407/ton, up fractionally; 10-34-0 $462/ton, up $5; anhydrous $580/ton, up $15; UAN28 $270/ton, up $5; and UAN32 $305/ton, up $1.

On a price per pound of nitrogen basis, the average urea price was at $0.44/lb.N, anhydrous $0.35/lb.N, UAN28 $0.48/lb.N and UAN32 $0.48/lb.N.

Retail fertilizers ended 2018 with considerably higher prices than when the year began.

"All fertilizers were costlier at the end of 2018 compared to 2017," wrote George Silva of Michigan State University (MSU) Extension in a recent post of fertilizer prices. "This contrasts with the relatively stable and low prices of 2017."

Silva said low commodity prices should not lead to drastic reductions in fertilizer use, because limiting fertilizer use may lead to unnecessary risk of economic yields losses.

MSU Extension recommends farmers rely on soil testing and realistic yield goals in determining phosphorus (P) and potassium (K) fertilizer application rates. Knowing how much P and K are found in the soil is a reliable guideline.

"It is worth noting that about 60% to 70% of soil samples tested in Michigan show adequate phosphorus, but only 20% to 25% samples show adequate potassium," he wrote. "Also, consider variable rate applications as a best practice to optimize fertilizer returns."

The MSU article can be viewed at: https://www.canr.msu.edu/…

All eight major fertilizers are now higher compared to last year. MAP is 9% higher, potash is 11% more expensive, DAP is 12% higher, 10-34-0 is 14% more expensive, urea is 15% higher, UAN32 is 18% more expensive and both anhydrous and UAN28 are 20% higher 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
Jan 15-19 2018	456	491	345	355
Feb 12-16 2018	457	495	345	357
Mar 12-16 2018	466	503	350	368
Apr 9-13 2018	482	504	353	369
May 7-11 2018	483	505	354	366
Jun 4-8 2018	484	505	354	364
Jul 2-6 2018	485	504	354	366
Jul 30- Aug 3 2018	488	505	355	366
Aug 27-31 2018	487	513	357	365
Sep 24-28 2018	494	520	361	385
Oct 22-26 2018	499	518	366	406
Nov 19-23 2018	501	530	368	407
Dec 17-21 2018	508	532	377	407
Jan 14-18 2019	512	534	383	407
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
Jan 15-19 2018	407	485	226	260
Feb 12-16 2018	415	492	230	264
Mar 12-16 2018	421	503	237	282
Apr 9-13 2018	427	510	241	275
May 7-11 2018	431	512	241	276
Jun 4-8 2018	440	503	241	276
Jul 2-6 2018	443	505	242	279
Jul 30- Aug 3 2018	443	498	242	279
Aug 27-31 2018	446	480	233	271
Sep 24-28 2018	449	493	236	278
Oct 22-26 2018	457	499	243	284
Nov 19-23 2018	457	520	246	287
Dec 17-21 2018	457	565	265	304
Jan 14-18 2019	462	580	270	305

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

Follow him on Twitter @RussQuinnDTN

(KD/BAS)

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