DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices skyrocketed higher in the first week of February, according to prices tracked by DTN.

Once again, all eight of the major fertilizers' prices were higher, but this time, they're all up a significant amount, which DTN designates as 5% or more. In my 12 years of writing this column, this might be the first time all eight fertilizers were up a considerable amount during the same week.

Leading the way higher was urea. The nitrogen fertilizer was up a whopping 16% compared to last month and had an average price of $429/ton. That's a $61/ton gain.

Right behind urea was DAP, which was 15% more expensive, looking back to last month. The phosphorus fertilizer's average price was $554/ton, up $72/ton.

Next up was UAN28, which saw an increase of 14% from last month. The liquid nitrogen had an average price of $239/ton, up $30/ton.

MAP was 11% higher from last month. The phosphorus fertilizer's average price was $601/ton, up $58/ton. The last time MAP was above the $600/ton level was the first week of October 2014. That week, MAP had an average price of $600/ton.

Three fertilizers were 8% higher compared to the previous month. Anhydrous had an average price of $507/ton, up $37/ton; 10-34-0 $502/ton, up $38/ton; and UAN32 $272/ton, up $21/ton.

Anhydrous crossed the $500/ton level for the first time since the fourth week of October 2019. Anhydrous' average price that week was $503/ton.

Starter fertilizer, 10-34-0, rose above the $500/ton level for the first time since the fourth week of August 2016. The fertilizer's price back then was $502/ton.

Potash was also significantly higher. The fertilizer was 5% more expensive from last month and had an average price of $389/ton, up $20/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.47/lb.N, up 3 cents from last month; anhydrous $0.31/lb.N, up 1 cent; UAN28 $0.43/lb.N, up 4 cents; and UAN32 $0.42/lb.N, up 2 cents.

Rising retail fertilizer prices have pushed the stock price of fertilizer manufacturers higher as well. Incitec Pivot, an Australian fertilizer producer, has seen its stock price rally 45% from its October low, according to Dow Jones.

The company also manufacturers explosives for the mining industry, and Goldman Sachs said while it remains positive for that industry, the company's stock price is being moved right now by fertilizer prices.

"While we remain positive on the mining outlook, the primary driver of Incitec's outperformance has come from the fertilizer business, in our view, with U.S. diammonium phosphate prices up 80% versus end of June on the back of U.S. anti-dumping tariffs and a strong commodity backdrop," said Goldman Sachs.

With retail fertilizer prices moving higher over recent months, all fertilizers are now higher in price from a year ago with one exception. UAN32 is still 2% less expensive looking back to last year.

UAN28 is now 2% more expensive, anhydrous is 3% higher, potash is 4% more expensive, 10-34-0 is 8% higher, urea is 19% more expensive, DAP is 34% higher and MAP is 38% more expensive compared to last 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.

DRY
Date Range	DAP	MAP	POTASH	UREA
Feb 3-7 2020	413	435	373	361
Mar 2-6 2020	409	432	369	369
Mar 30-Apr 3 2020	408	432	370	383
Apr 27-May 1 2020	413	433	370	386
May 25-29 2020	410	434	365	377
Jun 22-26 2020	404	429	363	359
Jul 20-24, 2020	407	428	360	358
Aug 17-21 2020	427	434	353	356
Sep 14-18 2020	434	448	344	360
Oct 12-16 2020	445	475	332	359
Nov 9-13 2020	454	486	333	358
Dec 7-11 2020	456	510	348	361
Jan 4-8 2021	482	543	369	368
Feb 1-5 2020	554	601	389	429
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
Feb 3-7 2020	464	490	235	277
Mar 2-6 2020	466	490	235	277
Mar 30-Apr 3 2020	467	492	235	278
Apr 27-May 1 2020	468	492	237	279
May 25-29 2020	468	478	236	279
Jun 22-26 2020	468	463	233	273
Jul 20-24, 2020	466	460	225	263
Aug 17-21 2020	465	445	220	259
Sep 14-18 2020	455	431	219	253
Oct 12-16 2020	457	424	209	249
Nov 9-13 2020	455	422	208	248
Dec 7-11 2020	464	429	210	252
Jan 4-8 2021	464	470	209	251
Feb 1-5 2020	502	507	239	272

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

Follow him on Twitter @RussQuinnDTN

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