DTN Retail Fertilizer Trends

OMAHA (DTN) -- Prices of the majority of retail fertilizers are higher again for the fourth week of March 2017 compared to a month earlier, though none were up significantly, according to fertilizer retailers surveyed by DTN.

This was the second week in a row that not all fertilizer prices were higher.

DAP had an average price of $438 per ton, MAP $465/ton, potash $338/ton, anhydrous $508/ton, UAN28 $248/ton and UAN32 $279/ton.

The one fertilizer that was lower in price compared to the previous month was urea. The nitrogen fertilizer was just slightly lower in price compared to a month ago. Urea's average price was $356 per ton.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.31/lb.N, UAN28 $0.44/lb.N and UAN32 $0.44/lb.N.

Despite the recent rainy weather, most of the fertilizer for the upcoming 2017 growing season appears to have been applied already in many locations across the Corn Belt.

Brent Hall, agronomy manager for South Central Cooperative located in Lacona, Iowa, said roughly 80% of their anhydrous acres and 75% of their dry fertilizer acres have already been applied.

"We are still sitting pretty good right before planting here," Hall told DTN. "It helped it was so open and we could go in February there."

Hall said that after the last few months of slightly increasing fertilizer prices, he expects retail prices should be fairly flat in the Midwest the rest of this spring as fieldwork moves its way north. Demand for fertilizer should lessen to a certain extent with more Southern areas having most of their fertilizer already applied, he said.

With anhydrous the main source of nitrogen for his farmer customers in south-central Iowa, Hall said he isn't too concerned about getting the last acres covered with fertilizer before corn planting begins in the region despite rains over the last couple of weeks. Normally, planting starts about April 10, but it may be delayed if the rain continues.

"We shouldn't have any problems getting the last bit applied," he said. "If it continues to rain, they wouldn't be planting corn anytime soon anyway."

Retail fertilizers are lower compared to a year earlier. Three of the eight major fertilizers are still double-digits lower.

10-34-0 is 21% lower from a year ago, anhydrous is 12% less expensive and UAN32 is 11% lower. Potash is 9% lower while DAP, urea and UAN28 are all 8% less expensive and MAP is 7% lower to 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 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
Mar 28-Apr 1 2016	478	501	370	386
Apr 25-29 2016	476	502	366	386
May 23-27 2016	476	501	365	381
June 20-24 2016	470	495	358	366
July 18-22 2016	464	493	357	357
Aug 15-19 2016	452	471	333	337
Sept 12-16 2016	444	458	320	324
Oct 10-14 2016	438	452	313	316
Nov 7-11 2016	429	449	314	323
Dec 5-9 2016	434	443	318	333
Jan 2-6 2017	431	442	322	339
Jan 30-Feb 3 2017	430	448	329	353
Feb 27-Mar 03 2017	436	458	335	361
Mar 27-31 2017	438	465	338	356
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Mar 28-Apr 1 2016	561	580	268	315
Apr 25-29 2016	560	587	274	321
May 23-27 2016	560	587	274	321
June 20-24 2016	554	567	265	305
July 18-22 2016	546	546	260	304
Aug 15-19 2016	513	516	238	285
Sept 12-16 2016	474	496	233	272
Oct 10-14 2016	454	475	224	264
Nov 7-11 2016	447	468	217	256
Dec 5-9 2016	445	463	219	257
Jan 2-6 2017	436	465	218	255
Jan 30-Feb 3 2017	439	482	236	270
Feb 27-Mar 03 2017	440	502	246	279
Mar 27-31 2017	441	508	248	279

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

Follow him on Twitter @RussQuinnDTN

(AG/BAS)

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