OMAHA (DTN) -- Average retail fertilizer prices continued to be mostly higher the second week of December 2017, with one exception, according to retailers surveyed by DTN.
Seven of the eight major fertilizers are now higher priced compared to a month ago. However, only one of the seven was up a significant amount. Anhydrous was up 6% compared to the previous month. The nitrogen fertilizer had an average price of $434 per ton.
The remaining seven were up just slightly. DAP had an average price of $439/ton, MAP $479/ton, potash $343/ton, urea $340/ton, 10-34-0 $403/ton and UAN28 $218/ton.
One fertilizer was lower compared to the previous month. UAN32 was 6% lower compared to last month. The nitrogen fertilizer had an average price of $256/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.37/lb.N, anhydrous $0.26/lb.N, UAN28 $0.39/lb.N and UAN32 $0.40/lb.N.
Despite the fact that prices for most retail fertilizers have been higher in recent weeks, the price outlook for nitrogen in 2018 appears to be lower. In a post from the University of Illinois farmdoc daily website titled "Nitrogen Fertilizer Prices and Costs Lower for 2018," author Gary Schnitkey wrote that nitrogen prices are lower than at any time since September 2008.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT T
"Lower nitrogen prices should translate into lower per-acre nitrogen fertilizer costs," Schnitkey wrote.
Using the Corn Nitrogen Rate Calculator, at $3.50 corn price and $400 per ton anhydrous price, the calculator suggested 169 pounds of applied nitrogen for northern Illinois, 186 pounds for central Illinois and 200 pounds for southern Illinois. Comparing nitrogen prices from 2017 back to 2016, the cost savings on anhydrous is $10 per acre.
"The $10 per acre in nitrogen saved can vary," he wrote. "Different sources of nitrogen will have different prices and thereby impact nitrogen savings from 2017 to 2018. Furthermore, prices could change between now and spring when some or all of the nitrogen will be applied."
The entire report can be viewed at http://farmdocdaily.illinois.edu/….
Four fertilizers are now higher compared to last year. DAP is 1% higher, urea is 2% more expensive, potash is 7% higher and MAP is now 8% more expensive.
The remaining four fertilizers are lower compared to a year prior. Both UAN28 and UAN32 are 1% lower while anhydrous is 6% less expensive and 10-34-0 is 9% lower.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
DTN's average of retail fertilizer prices from a month earlier ($ per ton):
|Dec 12-16 2016||433||443||320||333|
|Jan 9-13 2017||432||441||320||338|
|Feb 6-10 2017||431||448||330||354|
|Mar 03-10 2017||436||460||336||361|
|Apr 3-7 2017||438||466||338||354|
|May 1-5 2017||436||466||339||351|
|May 29-Jun 2 2017||436||471||340||339|
|Jun 26-30 2017||437||470||340||333|
|Jul 24-28 2017||434||462||338||308|
|Aug 21-25 2017||434||458||338||304|
|Sep 18-22 2017||429||452||345||312|
|Oct 16-20 2017||432||452||348||340|
|Nov 13-17 2017||435||459||342||339|
|Dec 11-15 2017||439||479||343||340|
|Dec 12-16 2016||444||463||219||257|
|Jan 9-13 2017||437||467||222||258|
|Feb 6-10 2017||440||485||238||273|
|Mar 03-10 2017||441||503||246||279|
|Apr 3-7 2017||441||505||248||280|
|May 1-5 2017||436||508||247||280|
|May 29-Jun 2 2017||436||503||248||280|
|Jun 26-30 2017||435||484||238||268|
|Jul 24-28 2017||425||423||229||265|
|Aug 21-25 2017||419||417||216||248|
|Sep 18-22 2017||416||402||211||248|
|Oct 16-20 2017||413||397||205||262|
|Nov 13-17 2017||403||410||216||272|
|Dec 11-15 2017||403||434||218||256|
Russ Quinn can be reached at email@example.com
Follow Russ Quinn on Twitter @RussQuinnDTN
© Copyright 2017 DTN/The Progressive Farmer. All rights reserved.