OMAHA (DTN) -- Retail fertilizer prices continued mixed the fourth week of September 2022, according to retailers tracked by DTN. Five of the eight major fertilizers are slightly lower in price compared to a month ago, while the remaining three are a bit higher.
For the fourth week in a row, no fertilizers were significantly lower or higher. DTN designates a significant move as anything 5% or more.
Five of the eight major fertilizers were just slightly lower. DAP had an average price of $947/ton, MAP $1,005/ton, potash $874/ton, 10-34-0 $861/ton, and UAN32 $670/ton.
Three fertilizers were slightly more expensive looking back to last month. Urea had an average price of $812/ton, anhydrous $1,380/ton and UAN28 $581/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.88/lb.N, anhydrous $0.84/lb.N, UAN28 $1.04/lb.N and UAN32 $1.05/lb.N.
A report, "Weekly Farm Economics: Fertilizer Prices, Rates, and Costs for 2023," in the farmdoc Daily e-newsletter, had agricultural economists from the University of Illinois and Ohio State University take a closer look at where fertilizer prices could be for the next growing season. See it here: (https://farmdocdaily.illinois.edu/…). No surprises -- prices look to be higher for the next growing season compared to the previous one.
Research shows fertilizer costs for corn were $175/acre using USDA Agricultural Marketing News (AMS) fertilizer prices from Sept. 23, 2021. This price increases $72/acre to $247/acre using Sept. 22, 2022, fertilizer prices.
Soybean fertilizer costs also increased during this time from $85/acre to $110/acre. This would be an increase of $25/ton, according to the report.
One way to limit fertilizer costs would be to limit or eliminate applications where possible. Soil test to see where phosphorus and potash levels are and applications on high testing soils can be limited or even eliminated to help lower fertilizer costs.
"Reducing rates seem prudent in several situations. Phosphorus and potassium applications can be reduced or eliminated if soil test levels are sufficiently high," the report said. "Significant uncertainty exists concerning fertilizer prices moving into the spring."
Despite lower prices in recent months, all fertilizers continue to be considerably higher in price than one year earlier.
MAP is 26% higher, both DAP and 10-34-0 are 31% more expensive, both potash and 10-34-0 are 35% more expensive, UAN28 is 50% higher, UAN32 is 51% higher and anhydrous is 76% 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.
In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….
USDA Secretary Tom Vilsack announced last week $500 million in grants will be available to American-made fertilizer production in the week of price hikes due to the war in Ukraine. You can read it here: https://www.dtnpf.com/….
|Sep 27-Oct 1 2021||722||800||647||620|
|Oct 25-29 2021||812||873||731||751|
|Nov 22-26 2021||830||915||775||868|
|Dec 20-24 2021||862||932||807||910|
|Jan 17-21 2022||863||932||807||916|
|Feb 14-18 2022||874||935||815||891|
|Mar 14-18 2022||970||1001||843||954|
|Apr 11-15 2022||1047||1071||875||1017|
|May 9-13 2022||1059||1083||881||1000|
|Jun 6-Jun 10 2022||1057||1077||880||977|
|Jul 4-8 2022||1038||1053||885||866|
|Aug 1-5 2022||1003||1036||883||812|
|Aug 29-Sep 2 2022||952||1022||877||804|
|Sep 26-30 2022||947||1005||874||812|
|Sep 27-Oct 1 2021||638||782||388||444|
|Oct 25-29 2021||663||982||458||522|
|Nov 22-26 2021||755||1308||574||660|
|Dec 20-24 2021||791||1424||583||679|
|Jan 17-21 2022||800||1433||585||683|
|Feb 14-18 2022||837||1488||603||703|
|Mar 14-18 2022||876||1520||610||706|
|Apr 11-15 2022||906||1534||630||730|
|May 9-13 2022||906||1529||634||730|
|Jun 6-Jun 10 2022||905||1518||633||731|
|Jul 4-8 2022||904||1466||609||702|
|Aug 1-5 2022||892||1387||592||679|
|Aug 29-Sep 2 2022||866||1364||576||671|
|Sep 26-30 2022||861||1380||581||670|
Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
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