DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continue to move lower, according to prices tracked by DTN for the third week of August 2022.

For three weeks in a row, all eight of the major fertilizers are less expensive compared to a month ago. After a week in which half the fertilizer prices were notably lower, only one fertilizer was considerably lower this week. DTN designates a significant move as anything 5% or more.

Anhydrous was 7% less expensive compared to last month. The nitrogen fertilizer's average price was $1,336/ton.

The remaining seven fertilizers were just slightly lower. DAP had an average price of $978/ton, MAP $1,026/ton, potash $881/ton, urea $807/ton, 10-34-0 $878/ton, UAN28 $576/ton and UAN32 $676/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.88/lb.N, anhydrous $0.81/lb.N, UAN28 $1.03/lb.N and UAN32 $1.06/lb.N.

Canada is urging farmers to reduce fertilizer emissions to curb greenhouse gasses, according to Dow Jones. This has triggered a backlash from farmers and concerns amid world food shortages.

The government is proposing a 30% reduction by 2030 from 2020 levels in emissions from fertilizer as part of a plan to reduce greenhouse gasses. Canada's Minister of Agriculture and Agri-Food Marie-Claude Bibeau said fertilizer use is one activity they have identified that can have an impact on reducing emissions.

"We are really committed to the fight against climate change," Bibeau said.

Farmers, however, are not convinced this is the right course of action. Gunter Jochum, a farmer and president of the Western Canadian Wheat Growers Association, is leery of the Canadian government's proposal.

"If there's a reduction in food production, it will definitely impact our regular customers in the world that rely on Canadian food," Jochum said.

Canada wants to avoid a situation like in the Netherlands where farmers are protesting the Dutch government's similar plan. So, the proposed target is a recommendation, according to a spokesperson for Agriculture and Argi-Food Canada.

Farmers who don't comply with the Canadian government's recommendations won't face any consequences. They would, however, forgo some of the $1.5 billion in financial aid and grants the government has made available to farmers to subsidize their operations.

Despite lower prices in recent months, all fertilizers continue to be considerably higher in price than one year earlier.

MAP is 36% more expensive, 10-34-0 is 39% higher, DAP is 41% more expensive, urea is 45% higher, potash and UAN28 are both 56% more expensive, UAN32 is 61% higher and anhydrous is 80% more expensive compared to last year.

DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.

USDA reported last week the recently passed Inflation Reduction Act will deliver $19.5 billion in new conservation funding, including improved opportunities for nutrient management. You can read it here: https://www.dtnpf.com/….

Dry
Date Range	DAP	MAP	POTASH	UREA
Aug 16-20 2021	695	755	564	556
Sep 13-17 2021	702	776	598	572
Oct 11-15 2021	798	860	710	719
Nov 8-12 2021	821	906	762	832
Dec 6-10 2021	840	919	778	887
Jan 3-7 2022	863	931	807	913
Jan 31-Feb 4 2022	877	933	813	905
Feb 28-Mar 4 2022	879	937	815	887
Mar 28-Apr 1 2022	1033	1045	868	1022
Apr 25-29 2022	1049	1082	881	1004
May 23-27 2022	1056	1082	879	989
Jun 20-Jun 24 2022	1040	1058	885	902
Jul 18-22 2022	1007	1043	887	836
Aug 15-19 2022	978	1026	881	807
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
Aug 16-20 2021	631	743	369	420
Sep 13-17 2021	632	762	381	428
Oct 11-15 2021	654	873	442	488
Nov 8-12 2021	719	1162	566	614
Dec 6-10 2021	756	1372	577	661
Jan 3-7 2022	795	1430	584	679
Jan 31-Feb 4 2022	826	1487	600	699
Feb 28-Mar 4 2022	837	1487	603	703
Mar 28-Apr 1 2022	896	1526	637	711
Apr 25-29 2022	906	1534	631	730
May 23-27 2022	906	1531	634	731
Jun 20-Jun 24 2022	905	1497	616	716
Jul 18-22 2022	894	1431	598	696
Aug 15-19 2022	878	1336	576	676

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

Follow him on Twitter @RussQuinnDTN

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