OMAHA (DTN) -- For the second week in a row, retail fertilizer prices tracked by DTN are mixed but still offering savings compared to a year ago.
Five fertilizers were lower compared to month earlier, but the move to the low side was insignificant. DAP averaged $477 per ton, MAP $494/ton, potash $372/ton, 10-34-0 $562/ton and anhydrous $541/ton.
Three fertilizers edged higher in prices compared to last month, but again the move was fairly small. Urea averaged $378/ton, UAN28 $262/ton and UAN32 $312/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.41/lb.N, anhydrous $0.33/lb.N, UAN28 $0.47/lb.N and UAN32 $0.49/lb.N.
The downward spiral in fertilizer prices since last August has encouraged procrastination and rewarded those who delayed orders.
Back in late December 2015, farmer Quentin Bowen of Humboldt, Nebraska, told DTN he was going to wait to purchase most of his fertilizer since prices were on the decline. At that point, he had not purchased any of his anhydrous needs yet. In recent years, he said, he waited to buy fertilizer until he needed it.
Checking in with Bowen now, he finally booked anhydrous in mid-February. He was able to start applying on Feb. 24 and finished on March 5, which is earlier than normal for his region.
"The fact is that we saved between $140 to $150 a ton by waiting is very significant," Bowen told DTN. "We are very fortunate at this point to have it for that price and to have it on now."
Field conditions last fall were a little too warm and too dry to apply anhydrous, so he did not apply any. As it turns out, by waiting he ended up saving a considerable amount of money on his nitrogen fertilizer.
Bowen is now preparing to apply additional dry fertilizer to his southeastern Nebraska fields. He purchased MAP in the early part of February at what he felt was a good price.
"I am working on our spreader now," he said.
After the six-month slide in prices, all fertilizers are double-digits lower compared to a year earlier. Even 10-34-0 is now down 10%.
Both DAP and UAN32 are now 16% lower, MAP is 17% less expensive and urea is 20% lower from a year ago. In addition, UAN28 is 21% less expensive, anhydrous is 23% lower and potash is 24% less expensive compared to a year earlier.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer prices in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to November 2008 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
DTN's average of retail fertilizer prices from a month earlier ($ per ton):
|Mar 9-13 2015||570||597||489||471|
|Apr 6-Apr 10 2015||570||598||491||461|
|May 4-8 2015||570||598||491||457|
|June 1-5 2015||570||598||491||461|
|June 29-July 3 2015||570||596||490||469|
|July 27-31 2015||569||594||487||469|
|Aug 24-28 2015||567||586||476||447|
|Sept 21-25 2015||562||575||454||428|
|Oct 19-23 2015||547||562||435||413|
|Nov 16-20 2015||545||559||424||403|
|Dec 14-18 2015||532||544||410||392|
|Jan 11-15 2016||495||521||391||381|
|Feb 8-12 2016||479||499||378||369|
|Mar 7-11 2016||477||494||372||378|
|Mar 9-13 2015||626||706||331||371|
|Apr 6-Apr 10 2015||648||709||333||370|
|May 4-8 2015||653||711||331||371|
|June 1-5 2015||650||710||331||371|
|June 29-July 3 2015||642||705||330||369|
|July 27-31 2015||636||689||324||354|
|Aug 24-28 2015||609||667||309||350|
|Sept 21-25 2015||589||646||297||343|
|Oct 19-23 2015||582||637||291||334|
|Nov 16-20 2015||579||629||287||332|
|Dec 14-18 2015||571||612||279||331|
|Jan 11-15 2016||572||581||272||319|
|Feb 8-12 2016||569||551||261||303|
|Mar 7-11 2016||562||541||262||312|
Russ Quinn can be reached at email@example.com
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