OMAHA (DTN) -- For the first time in months, retail fertilizer prices are showing signs of weakening with just as many fertilizer prices lower as higher the second week of April 2017 compared to last month, according to fertilizer retailers surveyed by DTN.
Of the eight major fertilizers, half continued to be higher in price, while the other half were lower. None of the eight saw significant changes in price, though.
The four that were higher were MAP, potash, 10-34-0 and UAN32. MAP had an average price of $466 per ton, potash $338/ton, 10-34-0 $441/ton and UAN32 $280/ton.
The four fertilizers with lower prices from last month were DAP, urea, anhydrous and UAN28. DAP had an average price of $437/ton, urea $353/ton, anhydrous $505/ton and UAN28 $247/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.38/lb.N, anhydrous $0.31/lb.N, UAN28 $0.44/lb.N and UAN32 $0.44/lb.N.
In world fertilizer news, Dow Jones reported this week that a new potash plant worth more than $1 billion has opened in the former Soviet nation of Turkmenistan. According to a report by The Associated Press, the new plant, near Garlyk, is capable of producing 1.4 million tons of potash.
The new potash facility will export its products to China and India among other countries. Turkmenistan president Gurbanguly Berdymukhamedov said the plant will help feed domestic and export demand for the fertilizer.
The potash facility was built by fellow former Soviet country Belarus, one of the leading producers of potash. Belarusian president Alexander Lukashenko said it was the largest potash plant in the region, according to the Dow Jones story.
Turkmenistan is seeking to diversify its economy to reduce its dependence on gas. The country has the world's fourth-largest natural gas reserves.
Retail fertilizers are lower compared to a year earlier. Three of the eight major fertilizers are still double digits lower.
10-34-0 is 21% lower from a year ago, anhydrous is 14% less expensive and UAN32 is 12% lower. DAP, urea and UAN28 are all 9% less expensive while both MAP and potash are both 8% lower compared to year earlier.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
DTN's average of retail fertilizer prices from a month earlier ($ per ton):
|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||432||450||332||357|
|Mar 13-17 2017||443||462||337||360|
|Apr 10-13 2017||437||466||338||353|
|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||491||240||276|
|Mar 13-17 2017||441||507||247||280|
|Apr 10-13 2017||441||505||247||280|
Russ Quinn can be reached at email@example.com
Follow him on Twitter @RussQuinnDTN
© Copyright 2017 DTN/The Progressive Farmer. All rights reserved.