DTN Retail Fertilizer Trends

OMAHA (DTN) -- Most average retail fertilizer prices continued their downward trend the fourth week of June 2023, according to sellers surveyed by DTN.

Six of the eight major fertilizers were lower in price compared to last month with one fertilizer noticeably less expensive. DTN designates a significant move as anything 5% or more.

Anhydrous was 5% less expensive than last month with an average price of $753 per ton.

The other five fertilizers that were lower in price were down just slightly from last month. MAP was $829 per ton, urea $616/ton, 10-34-0 $731/ton, UAN28 $396/ton and UAN32 $468/ton.

UAN28 dropped below the $400-per-ton level for the first time since the fourth week of September 2021. That week, the nitrogen fertilizer's average price was $388 per ton.

Of the remaining two fertilizers, DAP's average price was up $1 from last month at $825 per ton and Potash's average price was unchanged at $620.

On a price per pound of nitrogen basis, the average urea price was at $0.67/lb.N, anhydrous $0.46/lb.N, UAN28 $0.71/lb.N and UAN32 $0.73/lb.N.

A new fertilizer manufacturing facility is being built near Maitland, Ontario, Canada. VCN Canada (https://www.vanguardcropnutrition.ca/…) will manufacture multi-nutrient compound fertilizers, previously made in Eastern Europe and imported to Canada and the Americas.

"Supply chain disruptions and recent offshore production quality are serious issues for farmers on this side of the Atlantic, and VCN Canada will help correct that," Ryan Brophy, VCN Canada's CEO, said in a news release (64899da5dcc3977ac0945a9a_VCN Canada June 14 2023 (1).docx (live.com)).

One of the benefits of compound fertilizers is each granule contains a balance of nutrients. This in turn increases efficiency, reduces product waste and minimizes nutrient losses, according to Brophy.

The site is strategically located beside the St. Lawrence Seaway and mainline rail service and is targeted to open in 2024. The capacity of the new plant will be 25 metric tons (mt)/hour.

"It's an exciting day and time for farmers across Canada and the Americas," he said.

All fertilizers are now lower by double digits compared to one year ago. 10-34-0 is 19% less expensive, both DAP and MAP are 21% lower, both potash and urea are 30% less expensive, UAN32 is 34% lower, UAN28 is 35% less expensive and anhydrous is 49% 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/….

University of Illinois agricultural economists take a closer look at nitrogen fertilizer prices stabilizing. 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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