DTN Retail Fertilizer Trends

OMAHA (DTN) -- The downward trend in retail fertilizer prices continues, according to data tracked by DTN for the second full week of February 2023. This trend has been since the last week of December 2022.

All eight of the major fertilizer prices are lower compared to last month. Only two, however, show considerable price declines compared to last month. DTN designates a significant move as anything 5% or more.

UAN32 and UAN28 lead the way lower once again. Both liquid nitrogen fertilizers were 10% less expensive than last month. UAN28 had an average price of $483/ton while UAN32 was at $572/ton.

The remaining six fertilizers were all just slightly lower looking back to the prior month. DAP had an average price of $838/ton, MAP $857/ton, potash $692/ton, urea $686/ton, 10-34-0 $754/ton and anhydrous $1,213/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.75/lb.N, anhydrous $0.74/lb.N, UAN28 $0.86/lb.N and UAN32 $0.89/lb.N.

Global fertilizer supply shortages that drove up prices in 2022 will persist into 2023, according to Dow Jones. Nutrien CEO Ken Seitz said in an earnings release that despite tight supply and higher fertilizer prices, he expects demand from farmers for its fertilizer products to be higher in 2023.

"The outlook for our business is strong," Seitz said. (You can read the entire release here: https://www.nutrien.com/…)

The company expects crop acreage in the U.S. to grow about 4% in 2023 from the prior year amid a more normal planting season.

Nutrien posted a 7% decline in net earnings to $1.8 billion, below Wall Street analyst estimates, for the three months that ended on Dec. 31 due to lower sales volumes and rising costs.

All fertilizers' prices are now lower compared to one year ago. DAP is 4% less expensive, MAP is 8% lower, 10-34-0 is 10% less expensive, potash is 15% lower, both anhydrous and UAN32 are 19% less expensive, UAN28 20% lower and urea is 23% less expensive compared to a year prior.

DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.

Wholesale fertilizer prices are also on the decline much like retail fertilizer prices. 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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