DTN Retail Fertilizer Trends

OMAHA (DTN) -- According to retail fertilizer prices tracked by DTN for the fourth week of May 2023, fertilizers are mostly higher. This is the first time since November of 2022 that more fertilizers were higher in price than lower compared to the prior month.

Five of the eight major fertilizers are higher in price compared to last month. Only one fertilizer was substantially more expensive. DTN designates a significant move as anything 5% or more.

Urea was 5% higher compared to the prior month. The nitrogen fertilizer had an average price of $623/ton.

Four other fertilizers were slightly more expensive looking back a month. DAP had an average price of $834/ton, MAP $832/ton, potash $624/ton and UAN32 $509/ton.

Three fertilizers were lower compared to a month ago. One fertilizer, anhydrous, was 14% less expensive with an average price of $798/ton, or $130/ton less than last month.

After dropping below $1,000/ton just five weeks ago, anhydrous fell below the $800/ton level for the first time since the fourth week of September 2021. That week the average anhydrous price was $782/ton.

Two fertilizers were just slightly less expensive compared to the prior month. 10-34-0 had an average price of $739/ton and UAN28 $419/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.68/lb.N, anhydrous $0.49/lb.N, UAN28 $0.75/lb.N and UAN32 $0.80/lb.N.

Verde AgriTech, a Singapore-based fertilizer manufacturer, has asked its shareholders to approve a proposal to ban sales of its product to farmers in certain areas of the Amazon rainforest, according to Dow Jones.

The company operates two plants in Brazil that manufacture a potassium-based fertilizer that the company says is better for the environment than potash. It expects the move to have little to no effect on the company's revenue, according to CEO Cristiano Veloso.

The proposed ban might instead inspire other companies to consider similar bans, Veloso said.

All fertilizers are now lower by double digits compared to one year ago. 10-34-0 is 19% less expensive, DAP is 21% lower, MAP is 23% less expensive, potash is 29%, UAN32 is 30% lower, UAN28 is 34% less expensive, urea is 37% less expensive and anhydrous is 48% lower 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.

In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….

The total number of fertilizer carloads by Class I railroads was at an all-time high in May of 2023. 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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