DTN Retail Fertilizer Trends

OMAHA (DTN) –- Average retail prices for all but one fertilizer tracked by DTN continued to be lower than a year ago in the third week of December 2022. And for the first time in several months, one fertilizer was significantly lower. DTN designates a substantial move as anything 5% or more.

Potash was 5% less expensive compared to last month with an average price of $807 per ton.

Retail prices for six other fertilizers were also slightly less expensive. DAP had an average price of $902 per ton, MAP $939/ton, urea $779/ton, 10-34-0 $750/ton, anhydrous $1,415/ton and UAN28 $579/ton.

The remaining fertilizer, UAN32, was just slightly more expensive than last month with an average price of $682/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.85/lb.N, anhydrous $0.86/lb.N, UAN28 $1.03/lb.N and UAN32 $1.07/lb.N.

During the recent virtual 2022 DTN Ag Summit, attendees were asked several poll questions. One of those questions was: What best describes your fertilizer purchasing plan for the 2023 growing season?

Forty-five percent responded with "I have already purchased all of my fertilizer needs for 2023," while 30% responded with "I've already purchased some of my 2023 fertilizer."

Forty-five percent responded with "I have already purchased all of my fertilizer needs for 2023," while 30% responded with "I've already purchased some of my 2023 fertilizer."

Three-quarters of those who took the poll have already purchased some or all their 2023 fertilizer needs, which is kind of interesting. Apparently, many producers were willing to lock in their fertilizer needs despite fertilizer prices remaining at elevated levels.

Fertilizer prices are now nearly evenly mixed at higher or lower from one year earlier. This week, four fertilizers are lower while the other four are higher.

Both anhydrous and UAN28 are now 1% lower, while 10-34-0 is 5% less expensive and urea is 14% compared to last year. Both MAP and potash are 1% higher, while UAN32 is 3% more expensive and DAP is 5% higher compared to one year earlier.

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/….

Looking ahead to 2023, one of the challenges facing U.S. agriculture will be lower-forecast farm income thanks to rising input prices, according to a recent report from CoBank. You can read it here: https://www.dtnpf.com/….

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

Follow him on Twitter @RussQuinnDTN

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