DTN Retail Fertilizer Trends

Fertilizer Prices Mostly Higher Third Week of June

Russ Quinn
By  Russ Quinn , DTN Staff Reporter
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While most retail fertilizer prices increased this week, anhydrous declined compared to the previous month with an average price of $503 per ton. It is 1% higher on the year. (DTN chart)

OMAHA (DTN) -- Retail fertilizer prices continue to see extremely small movements with prices for most fertilizers slightly higher the third week of June 2018, according to retailers surveyed by DTN.

Seven of the eight major fertilizers were higher compared to last month, but none were up by a significant percentage. DAP had an average price of $485 per ton, MAP $505/ton, potash $354/ton, urea $364/ton, 10-34-0 $440/ton, UAN28 $242/ton and UAN32 $277/ton.

One fertilizer, anhydrous, was lower in price compared to the previous month. As with the higher prices, the price move was just slightly lower. Anhydrous had an average price of $503 per 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.

While price movements have been uneventful, the weather has been an adventure in some areas over recent weeks. Heavy rain across parts of the Corn Belt has led to lots of standing water and crop damage.

Bob Spratt, manager of LeRoy Fertilizer Services located in LeRoy, Illinois, told DTN his region of central Illinois caught some beneficial rains but not the damaging heavy rains other places have seen. He estimated most of his area got around 3.5 inches of rain over the last couple of weeks with the heavier rains falling farther to the east.

"I feel for anyone that is dealing with being too wet," Spratt said. "It is the hardest weather condition to deal with in my opinion."

Too much rain and standing water in cornfields leads to questions about how much nitrogen remains in the soil. Spratt said producers who are dealing with N loss due to leaching and want to apply more nutrients have a few options once the water is gone and the soils are dry.

One option would be to apply urea, either by high-clearance sprayer with a dry box or by airplane. Another option, which Spratt prefers, would be to dribble on liquid N solution with a high-clearance sprayer.

"The crop response with dribbled solution is less leaf burning than with urea," he said.

Seven of the eight major fertilizers are now higher compared to last year. 10-34-0, anhydrous and UAN32 are now up 1%, potash is 4% higher, MAP 7% more expensive, urea is 9% higher and DAP is 11% more expensive compared to last year.

The remaining fertilizer, UAN28, is lower in price compared to a year prior by 1%.

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
Jun 19-23 2017 436 470 340 333
Jul 17-21 2017 435 464 339 309
Aug 14-18 2017 434 460 338 305
Sep 11-15 2017 431 456 336 310
Oct 9-13 2017 432 453 347 325
Nov 6-10 2017 434 459 341 338
Dec 4-8 2017 438 471 343 344
Jan 1-5 2018 452 490 345 350
Jan 29-Feb 2 2018 458 492 344 355
Feb 26-Mar 2 2018 461 497 346 361
Mar 26-30 2018 470 506 350 370
Apr 23-27 2018 485 504 353 367
May 21-25 2018 483 504 354 364
Jun 18-22 2018 485 505 354 364
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Jun 19-23 2017 435 497 243 273
Jul 17-21 2017 425 425 229 265
Aug 14-18 2017 419 419 216 251
Sep 11-15 2017 416 412 210 248
Oct 9-13 2017 413 397 206 253
Nov 6-10 2017 403 409 216 272
Dec 4-8 2017 404 424 215 251
Jan 1-5 2018 409 474 219 256
Jan 29-Feb 2 2018 415 491 227 261
Feb 26-Mar 2 2018 416 496 233 279
Mar 26-30 2018 425 507 237 272
Apr 23-27 2018 431 507 241 277
May 21-25 2018 439 504 241 276
Jun 18-22 2018 440 503 242 277

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

Follow him on Twitter @RussQuinnDTN

(KD/AG)

Russ Quinn