DTN Retail Fertilizer Trends

Most Retail Fertilizer Prices Higher

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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UAN28 was 8% higher the third week of February 2017 compared to last month with an average price of $240 per ton. (DTN chart)

OMAHA (DTN) -- Retail fertilizer prices continued to increase the third week of February 2017, according to retail data tracked by DTN. This marks the fourth week in a row prices have moved higher.

Seven of the eight major fertilizers were higher compared to a month earlier with four higher by a considerable amount.

UAN28 was 8% higher compared to last month while UAN32 was 7% more expensive, urea was 6% higher and anhydrous up 5%. UAN28 had an average price of $240/ton, UAN32 $276/ton, urea $357/ton and anhydrous $491/ton.

Three fertilizers were slightly higher than the previous month. MAP had an average price of $450/ton, potash $332/ton and 10-34-0 $440/ton.

DAP prices actually fell slightly for the month, with an average price of $432/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.30/lb.N, UAN28 $0.43/lb.N and UAN32 $0.43/lb.N.

As retail fertilizer prices continue to move higher, farmers who already pre-purchased at least some of their fertilizer needs look to have made a smart business decision.

Jamin Ringger, a hog and corn and soybean farmer from Gridley, Illinois, said he bought about half of his UAN28 needs in August 2016. In addition, he also bought phosphorus and potash, which he applied last fall.

"I'm waiting on the rest of UAN28 hoping for another pull back, and I will fill up for the side-dressing season," Ringger told DTN.

Being a hog producer, Ringger utilizes manure as another source of fertilizer on his crop acres. The manure is tested for the amount of N, P and K available, with different hog manures (sow manure vs. finishing manure) having different nutrient amounts.

On farms that see a manure application, Ringger said he will pull soil samples for nitrogen to see how much is available in the soil. Then he will apply commercial nitrogen if it is needed, usually around 15 to 30 gallons per acre, he said.

"On non-manure ground, we apply 40 gallons (per acre) on pre-plant, then 20 gallons (per acre) at V6 for corn following soybeans," he said.

Retail fertilizers are lower compared to a year earlier. Five of the eight major fertilizer are double digits lower.

10-34-0 is 23% lower from a year ago while potash is 12% less expensive and anhydrous is 11% lower. Both DAP and MAP are 10% less expensive compared to year earlier.

UAN32 is now 9% lower, UAN28 is now 8% less expensive and urea is 3% lower 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
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
Aug 1-5 2016 459 488 346 349
Aug 29-Sept 2 2016 449 464 327 326
Sept 26-30 2016 440 458 317 322
Oct 24-28 2016 436 451 313 317
Nov 21-25 2016 436 445 316 328
Dec 19-23 2016 432 437 321 336
Jan 16-20 2017 430 443 324 346
Feb 13-17 2017 431 448 330 354
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
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
Aug 1-5 2016 548 552 254 307
Aug 29-Sept 2 2016 493 509 233 275
Sept 26-30 2016 465 486 223 271
Oct 24-28 2016 452 472 224 262
Nov 21-25 2016 445 465 218 256
Dec 19-23 2016 442 468 217 255
Jan 16-20 2017 437 478 235 267
Feb 13-17 2017 440 485 238 273

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

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(GH/AG)

Russ Quinn