DTN Retail Fertilizer Trends

OMAHA (DTN) -- The downward trend in retail fertilizer prices continues, according to data tracked by DTN for the second full week of February 2023. This trend has been since the last week of December 2022.

All eight of the major fertilizer prices are lower compared to last month. Only two, however, show considerable price declines compared to last month. DTN designates a significant move as anything 5% or more.

UAN32 and UAN28 lead the way lower once again. Both liquid nitrogen fertilizers were 10% less expensive than last month. UAN28 had an average price of $483/ton while UAN32 was at $572/ton.

The remaining six fertilizers were all just slightly lower looking back to the prior month. DAP had an average price of $838/ton, MAP $857/ton, potash $692/ton, urea $686/ton, 10-34-0 $754/ton and anhydrous $1,213/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.75/lb.N, anhydrous $0.74/lb.N, UAN28 $0.86/lb.N and UAN32 $0.89/lb.N.

Global fertilizer supply shortages that drove up prices in 2022 will persist into 2023, according to Dow Jones. Nutrien CEO Ken Seitz said in an earnings release that despite tight supply and higher fertilizer prices, he expects demand from farmers for its fertilizer products to be higher in 2023.

"The outlook for our business is strong," Seitz said. (You can read the entire release here: https://www.nutrien.com/…)

The company expects crop acreage in the U.S. to grow about 4% in 2023 from the prior year amid a more normal planting season.

Nutrien posted a 7% decline in net earnings to $1.8 billion, below Wall Street analyst estimates, for the three months that ended on Dec. 31 due to lower sales volumes and rising costs.

All fertilizers' prices are now lower compared to one year ago. DAP is 4% less expensive, MAP is 8% lower, 10-34-0 is 10% less expensive, potash is 15% lower, both anhydrous and UAN32 are 19% less expensive, UAN28 20% lower and urea is 23% less expensive compared to a year prior.

DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.

Wholesale fertilizer prices are also on the decline much like retail fertilizer prices. You can read it here: https://www.dtnpf.com/….

Dry
Date Range	DAP	MAP	POTASH	UREA
Feb 14-18 2022	874	935	815	891
Mar 14-18 2022	970	1001	843	954
Apr 11-15 2022	1047	1071	875	1017
May 9-13 2022	1059	1083	881	1000
Jun 6-Jun 10 2022	1057	1077	880	977
Jul 4-8 2022	1038	1053	885	866
Aug 1-5 2022	1003	1036	883	812
Aug 29-Sep 2 2022	952	1022	877	804
Sep 26-30 2022	947	1005	874	812
Oct 24-28 2022	930	986	862	827
Nov 21-25 2022	927	972	841	802
Dec 19-Dec 23 2022	890	909	790	757
Jan 16-Jan 20 2023	859	865	721	712
Feb 13-Feb 17 2023	838	857	692	686
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
Feb 14-18 2022	837	1488	603	703
Mar 14-18 2022	876	1520	610	706
Apr 11-15 2022	906	1534	630	730
May 9-13 2022	906	1529	634	730
Jun 6-Jun 10 2022	905	1518	633	731
Jul 4-8 2022	904	1466	609	702
Aug 1-5 2022	892	1387	592	679
Aug 29-Sep 2 2022	866	1364	576	671
Sep 26-30 2022	861	1380	581	670
Oct 24-28 2022	759	1422	580	678
Nov 21-25 2022	753	1419	583	681
Dec 19-Dec 23 2022	751	1360	578	681
Jan 16-Jan 20 2023	755	1238	536	634
Feb 13-Feb 17 2023	754	1213	483	572

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

Follow him on Twitter @RussQuinnDTN

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