DTN Retail Fertilizer Trends

OMAHA (DTN) -- For the first time in several months, retail fertilizer prices were mixed, according to prices tracked by DTN for the third week of May 2022. A few were slightly higher, a few were slightly lower and one fertilizer was unchanged in price compared to last month.

Four fertilizers' prices were higher compared to last month, but none were up a substantial amount. DTN designates a significant move as anything 5% or more.

DAP had an average price of $1,059/ton (all-time high), MAP $1,083/ton (all-time high), UAN28 $634/ton and UAN32 $731/ton (all-time high).

Three fertilizers were slightly less expensive compared to last month but nothing noteworthy. Potash had an average price of $878/ton, urea $993/ton and anhydrous $1,529/ton.

10-34-0 had an average price of $906/ton, unchanged from last month.

On a price per pound of nitrogen basis, the average urea price was at $1.08/lb.N, anhydrous $0.93/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N.

The issue of fertilizer price was briefly discussed last week during a Kansas State University Extension webinar titled "Dealing with Drought." K-State Extension specialists answered producers' questions during the roughly 75-minute-long webinar.

Gregg Ibendahl, Kansas State University Extension Agricultural Economist, was asked about his thoughts about what direction fertilizer prices could move this summer. Nutrient prices have not really backed off much so far in 2022, he said.

With quite a bit of supply coming from the unstable Black Sea region, this is one fertilizer to watch in the coming weeks and months, he said.

"I think potash could move even higher going forward," Ibendahl said.

Potash is one of a few fertilizers that has yet to reach its all-time high price, according to the DTN data set. With a current price of $878/ton, potash is closing in on the all-time high price of $896/ton, which was set in the first week of Nov. 2008.

The other fertilizer that has not gotten to an all-time high price in recent months is 10-34-0. Starter fertilizer has some work to do to reach the all-time high price of $1,250/ton from the first week of Nov. 2008.

Most fertilizers continue to be considerably higher in price than one year earlier.

10-34-0 is 46% more expensive, MAP is 53% higher, DAP is 65% more expensive, UAN28 is 75% higher, UAN32 is 80% more expensive, urea is 91% is higher, potash is 100% higher and anhydrous is 113% 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 a recent press release from The Fertilizer Institute (TFI), the organization welcomed the announcement USDA would be doubling its initial $250 million investment in domestic fertilizer production to $500 million. You can read it here: https://www.dtnpf.com/….

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

Follow him on Twitter @RussQuinnDTN

(c) Copyright 2022 DTN, LLC. All rights reserved.