By Russ Quinn
DTN Staff Reporter
OMAHA (DTN) -- The prices of most retail fertilizers remain lower than at the same time last month, although three prices saw small upticks, according to prices tracked by DTN for the second week of February 2020.
Only one fertilizer had a noteworthy price decline, which DTN considers a move of 5% or more. The average retail DAP price declined 5% and had an average price of $413/ton.
Four other fertilizers had a minor price decline from the previous month. MAP had an average price of $435/ton, down $9; potash $373/ton, down $2; 10-34-0 $464/ton, down $6; and UAN28 $235/ton, down $2.
The remaining three fertilizers also had minor price increases compared to last month. Urea had an average price of $361/ton, up $4; anhydrous $490/ton, up $3; and UAN32 $277/ton, up $2.
On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.30/lb.N, UAN28 $0.42/lb.N and UAN32 $0.43/lb.N.
Fertilizer company stocks took a tumble last week as forecasts for lower fertilizer prices lowered analysts' projections. Dow Jones reported Citi downgraded CF Industries, Mosaic and Nutrien stocks to neutral from buy and slashed price targets on shares.
The Citi analysts say price weakness, despite significant supply discipline in phosphate and potash, along with a flattening nitrogen cost curve has them moving to the sidelines. Citi cut its target prices to $43 from $56 for CF, to $21 from $29 for Mosaic and to $47 from $61 for Nutrien.
They added that FMC, supported by its research and development pipeline and patent protection, remains their top pick in the ag space, followed by Corteva, according to Dow Jones.
Retail fertilizers are now all lower in price from a year ago. MAP and DAP are both now 19% lower, anhydrous is 18% less expensive, both UAN28 and UAN32 are 13% lower, urea is 11% less expensive, potash is 3% lower and 10-34-0 is 1% less expensive from last year at this time.
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 11-15 2019 | 512 | 537 | 385 | 405 |
| Mar 11-15 2019 | 510 | 534 | 386 | 402 |
| Apr 8-12 2019 | 505 | 532 | 387 | 404 |
| May 6-10 2019 | 501 | 527 | 391 | 418 |
| Jun 3-7 2019 | 497 | 527 | 392 | 434 |
| Jul 1-5, 2019 | 498 | 532 | 392 | 432 |
| Jul 29-Aug 2 2019 | 494 | 530 | 393 | 428 |
| Aug 26-30 2019 | 491 | 494 | 387 | 412 |
| Sep 23-27, 2019 | 479 | 475 | 384 | 404 |
| Oct 21-25, 2019 | 465 | 473 | 383 | 404 |
| Nov 18-22 2019 | 456 | 466 | 381 | 387 |
| Dec 16-20 2019 | 444 | 460 | 378 | 377 |
| Jan 13-17 2020 | 433 | 444 | 375 | 357 |
| Feb 10-14 2020 | 413 | 435 | 373 | 361 |
| Liquid |
| Date Range | 10-34-0 | ANHYD | UAN28 | UAN32 |
| Feb 11-15 2019 | 470 | 596 | 271 | 318 |
| Mar 11-15 2019 | 469 | 596 | 269 | 318 |
| Apr 8-12 2019 | 481 | 592 | 271 | 317 |
| May 6-10 2019 | 487 | 595 | 267 | 310 |
| Jun 3-7 2019 | 487 | 591 | 271 | 314 |
| Jul 1-5, 2019 | 482 | 584 | 276 | 317 |
| Jul 29-Aug 2 2019 | 486 | 580 | 272 | 320 |
| Aug 26-30 2019 | 470 | 528 | 256 | 290 |
| Sep 23-27, 2019 | 471 | 511 | 254 | 289 |
| Oct 21-25, 2019 | 471 | 507 | 251 | 291 |
| Nov 18-22 2019 | 472 | 496 | 245 | 284 |
| Dec 16-20 2019 | 469 | 487 | 239 | 276 |
| Jan 13-17 2020 | 470 | 487 | 237 | 275 |
| Feb 10-14 2020 | 464 | 490 | 235 | 277 |
Russ Quinn can be reached at russ.quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
(KD/CZ)
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