DTN Retail Fertilizer Trends

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

For the first time during the current price shift lower, all eight major fertilizers are lower in price compared to last month, and multiple fertilizers are down a substantial amount. DTN designates a significant move as anything 5% or more.

Urea was 6% lower compared to last month. The nitrogen fertilizer had an average price of $812/ton. Anhydrous was down 5% from last month and had an average price of $1,387/ton.

The remaining six fertilizers were slightly lower. DAP had an average price of $1,003/ton, MAP $1,036/ton, potash $883/ton, 10-34-0 $892/ton, UAN28 $592/ton and UAN32 $679/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.88/lb.N, anhydrous $0.85/lb.N, UAN28 $1.06/lb.N and UAN32 $1.06/lb.N.

Fertilizer giant Nutrien announced Tuesday that Ken Seitz has assumed the president and CEO roles of the firm, bumping its interim CEO into the full-time job, Dow Jones reported.

This comes as the fertilizer company seeks to quickly scale up its production amid tight global supplies. The company is working on boosting its annual potash production by 40% by 2025 as the war in Ukraine and sanctions disrupt shipments from major producers in Russia and Belarus.

Seitz has served as Nutrien's interim CEO since January following the departure of its former CEO, Mayo Schmidt, who left the role after less than a year on the job.

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

MAP is 37% more expensive, 10-34-0 is 41% higher, DAP is 44% more expensive, urea is 46% higher, potash is 59% more expensive, UAN28 is 61% higher, UAN32 is 62% more expensive and anhydrous is 88% higher 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/….

Global supplies of anhydrous continue to tighten, which could have a negative effect on ammonia, according to BASF CEO Martin Brudermuller. You can read about that 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.