OMAHA (DTN) -- Average retail prices for most fertilizers continued to move lower the first week of October 2017, but there were a couple of exceptions, according to fertilizer retailers surveyed by DTN. For the third week in a row, two fertilizers are showing higher prices compared to a month ago.
Six of the eight major fertilizers were slightly lower compared to last month. DAP had an average price of $425 per ton, MAP $453/ton, 10-34-0 $413/ton, anhydrous $399/ton, UAN28 $208/ton and UAN32 $243/ton.
The remaining two fertilizers were higher compared to the month prior, with one fertilizer up by a notable amount. Urea was 7% higher compared to last month with an average price of $323 per ton. Potash was also up just slightly with an average price of $348 per ton.
On a price per pound of nitrogen basis, the average urea price was at $0.35/lb.N, anhydrous $0.24/lb.N, UAN28 $0.37/lb.N and UAN32 $0.38/lb.N.
In a DTN 360 Poll question posted from Sept. 14 to Oct. 10 on DTN websites, we asked: "With harvest approaching, fall fertilizer application is also not that far away. What best applies to how you are handling fertilizer purchases for fall application?"
With 385 total respondents, the majority, 52%, responded with choice 4: "Will not pre-order fertilizer at all for fall applications." Choice 3, "Will purchase fertilizer within the next month for fall application," was the next most popular response with 29%. That was followed by choice 2, "Pre-ordered fertilizer within the last month for fall application," at 12% and choice 1, "Pre-ordered fertilizer months ago for fall application," at 7%.
The data broken down by state showed the majority of respondents in most states responded that they will not pre-order fertilizer for fall applications.
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The results of the poll are not surprising after talking with fertilizer retailers and farmers who say producers aren't motivated to lock in fertilizer needs with retail prices steady to declining for most of this calendar year.
That's not to say there weren't any interesting differences by state in the poll results.
One state, Illinois, had more respondents select choice 3, "Will purchase fertilizer within the next month for fall application." In other states, such as Indiana, Nebraska and Kansas, by far the vast majority of poll participants responded with choice 4, "Will not pre-order fertilizer at all for fall application."
Five of the eight major retail fertilizers are lower compared to a year earlier. Only one of the five is double digits lower.
Anhydrous is now 15% lower from a year ago while 10-34-0 is 9% less expensive and UAN32 is 8% lower. UAN28 is 7% less expensive and DAP is 3% less expensive.
Three fertilizers are now higher compared to last year. MAP is 1% more expensive, urea is 3% higher and potash is now 12% more expensive.
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):
|Oct 3-7 2016||438||451||312||315|
|Oct 31-Nov 4 2016||436||451||314||319|
|Nov 28-Dec 2 2016||435||445||318||331|
|Dec 26-30 2016||431||443||321||336|
|Jan 23-27 2017||429||443||322||347|
|Feb 20-24 2017||433||452||332||359|
|Mar 20-24 2017||438||464||338||356|
|Apr 17-21 2017||438||466||339||352|
|May 15-19 2017||437||471||340||350|
|Jun 12-16 2017||437||470||341||338|
|Jul 10-14 2017||436||467||340||321|
|Aug 7-11 2017||434||462||339||311|
|Sep 4-8 2017||431||458||338||302|
|Oct 2-6 2017||425||453||348||323|
|Oct 3-7 2016||454||472||224||263|
|Oct 31-Nov 4 2016||452||471||244||262|
|Nov 28-Dec 2 2016||447||465||217||256|
|Dec 26-30 2016||437||466||217||254|
|Jan 23-27 2017||436||480||235||268|
|Feb 20-24 2017||440||490||241||276|
|Mar 20-24 2017||441||507||248||280|
|Apr 17-21 2017||437||509||247||280|
|May 15-19 2017||436||510||248||283|
|Jun 12-16 2017||435||500||246||278|
|Jul 10-14 2017||431||451||235||268|
|Aug 7-11 2017||440||419||224||258|
|Sep 4-8 2017||418||413||215||248|
|Oct 2-6 2017||413||399||208||243|
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