DTN Retail Fertilizer Trends

Continued Split Seen in Retailer Fertilizer Price Moves

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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Urea had an average retail price of $368 per ton at the beginning of May 2018, down about 0.5% from $370 the previous month. (DTN chart)

OMAHA (DTN) -- Average retail prices for the majority of fertilizers continued to move slightly higher at the beginning of May 2018. But, in the last two weeks, prices for multiple fertilizers were lower, according to retailers surveyed by DTN.

Two of the eight major fertilizers, MAP and urea, were slightly lower compared to the previous month. MAP had an average price of $505 per ton and urea $368 per ton.

The remaining six fertilizers were again higher in price than they were last month, although the moves were small. DAP had an average price of $485 per ton, potash $353/ton, 10-34-0 $431/ton, anhydrous $510/ton, UAN28 $241/ton and UAN32 $277/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.40/lb.N, anhydrous $0.31/lb.N, UAN28 $0.43/lb.N and UAN32 $0.43/lb.N.

Dow Jones reported on Monday that fertilizer manufacturer Mosaic reported first-quarter 2018 net earnings of $42 million thanks to higher prices for its crop nutrients. However, the company said its earnings took a hit with issues related to poor weather and logistics. Higher retail prices for phosphate and potash boosted the company's net sales, but the benefits were partially offset by lower sales volumes due to delays in the start of the planting season in the U.S. and rail troubles in Canada.

Mosaic reported earnings per share of $0.11 on revenue of $1.9 billion. Analysts surveyed by Thomson Reuter had expected $0.28 cent in per-share earnings on $1.8 billion in revenue.

"Delays in new fertilizer supply coming to market, as well as strong demand and improving farm economics bode well," Joc O'Rouke, Mosaic's CEO, said, according to Dow Jones.

Five of the eight major fertilizers are now higher compared to last year with prices pushing higher in recent months. Anhydrous is now up 1%, potash is 4% higher, urea is 5% higher, MAP is 8% more expensive and DAP is 11% higher compared to last year.

The remaining three fertilizers are lower in price compared to a year prior. Both 10-34-0 and UAN32 are 1% lower while UAN28 is 2% less expensive looking back a 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
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
Jan 8-12 2018 456 491 346 352
Feb 5-9 2018 458 493 344 355
Mar 5-9 2018 463 503 349 367
Apr 2-6 2018 478 508 352 370
Apr 30-May 4 2018 485 505 353 368
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
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
Jan 8-12 2018 410 479 220 258
Feb 5-9 2018 415 492 227 261
Mar 5-9 2018 422 499 234 272
Apr 2-6 2018 425 508 239 274
Apr 30-May 4 2018 431 510 241 277

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

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(AG/BAS)

Russ Quinn