DTN Retail Fertilizer Trends

OMAHA (DTN) -- Fertilizer prices continued to work lower the first week of July 2016, according to retailers tracked by DTN. While prices are lower, no fertilizer value moved significantly lower, thus snapping a three-week run of notable price drops.

All eight of the major fertilizer were lower in price compared to a previous month but, again, none were down significantly. DAP had an average price of $469/ton, MAP $496/ton, potash $359/ton and urea at $361/ton. 10-34-0 was at $546/ton, anhydrous $554/ton, UAN28 $261/ton and UAN32 $304/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.34/lb.N, UAN28 $0.47/lb.N and UAN32 $0.48/lb.N.

While the 2016 growing season is nowhere near complete, some producers have already begun to focus on fertilizer needs for the 2017 crop. Some have already locked in prices for the next crop.

One Illinois farmer, who asked that his name not be used, already has locked in potash prices for the next growing season. He has pre-ordered about two-thirds of his potash needs for the upcoming crop.

"Potash is at the lows from the last six or seven years," he said. "At this level it is very profitable for us, so we locked in about a month ago."

The farmer said he locked in potash for around $225 per ton. Last year it was closer to $300 to $325 per ton in his area.

He will lock in more potash "soon," he said. He also estimated he would be willing to lock in some of his DAP needs fairly soon.

Retail fertilizer prices are lower compared to a year earlier. All fertilizer prices are now double-digits lower.

10-34-0 is 15% lower while both MAP and UAN32 are both 17% less expensive and DAP is 18% lower. Both anhydrous and UAN28 are 20% lower while urea is 23% lower and potash is 27% less 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 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):

DRY
Date Range	DAP	MAP	POTASH	UREA
July 6-10 2015	570	596	489	470
Aug 3-7 2015	567	591	482	464
Aug 31-Sept 4 2015	564	583	471	439
Sept 28-Oct 2 2015	561	573	450	424
Oct 26-30 2015	546	562	431	409
Nov 23-27 2015	543	556	422	397
Dec 21-25 2015	519	541	408	390
Jan 18-22 2016	495	520	392	381
Feb 15-19 2016	477	496	375	370
Mar 14-18 2016	477	499	369	390
Apr 11-15 2016	480	504	367	388
May 9-13 2016	476	502	366	385
June 6-10 2016	470	498	359	370
July 4-8 2016	469	496	359	361
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
July 6-10 2015	640	695	327	366
Aug 3-7 2015	628	677	318	354
Aug 31-Sept 4 2015	602	659	304	349
Sept 28-Oct 2 2015	594	644	295	342
Oct 26-30 2015	583	638	292	334
Nov 23-27 2015	580	624	286	325
Dec 21-25 2015	571	608	277	330
Jan 18-22 2016	571	581	272	319
Feb 15-19 2016	565	538	259	309
Mar 14-18 2016	560	566	276	312
Apr 11-15 2016	560	587	273	318
May 9-13 2016	561	588	274	321
June 6-10 2016	556	569	267	310
July 4-8 2016	546	554	261	304

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

Follow him on Twitter @RussQuinnDTN

(CZ/AG)

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