DTN Retail Fertilizer Trends

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/….

Dry
Date Range DAP MAP POTASH UREA
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
Liquid
Date Range 10-34-0 ANHYD UAN28 UAN32
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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