DTN Retail Fertilizer Trends

MT. JULIET, Tenn. (DTN) -- The average retail price of all eight major fertilizers tracked by DTN declined for the third week in a row, with half of the fertilizers posting significant moves lower.

DTN surveyed sellers during the fourth week of July and considers price changes of 5% or more from the previous month to be significant.

Anhydrous retains its leadership in the decline of retail prices. Its average price is 8% less than last month at $691/ton. For perspective, anhydrous was 52% more expensive last year, at $1431/ton.

The average price of urea and UAN32 each fell by 6% from last month to $581/ton and $442/ton, respectively.

MAP prices dropped by 5% to $1041/ton.

The average price of the remaining four fertilizers also declined from last month. DAP cost $795/ton; potash, $594/ton; 10-34-0, $715/ton; UAN28, $383/ton.

On a price pound of nitrogen basis, the average urea price was at $0.63/lb.N, anhydrous $0.42/lb.N, UAN28 $0.68/lb.N and UAN32 $0.69/lb.N.

All fertilizers are now lower by double digits compared to one year ago.

-- 10-34-0, down 20%

-- DAP, down 21%

-- MAP, down 24%

-- Urea, down 30%

-- Potash, down 33%

-- UAN28, down 36%

-- UAN32, down 37%

-- Anhydrous, down 52%

Fertilizer expenses ballooned in 2022, according to a recent USDA report on production costs. Farmers spent almost 20% more on fertilizer than the year before, shelling out $36.8 billion. You can read more on 2022's production costs here: https://www.dtnpf.com/…

While prices may have returned to earth this year, with many returning to near their 5-year average price, it continues to be a large line item on farmers' budgets. Alexis Maxwell, a fertilizer analyst at Bloomberg Intelligence/Green Markets, will join the DTN Ag Summit Series on August 15 to discuss what's influencing prices and whether it's a good year to book your needs early.

She specializes in financial and economic analysis of fertilizer markets and producers. Prior to joining Bloomberg, Maxwell was a market analyst at CF Industries and SABIC. While she frequently presents to investment groups and others in the financial world, she says she's looking forward to presenting to farmers.

Sign up to hear Alexis's presentation, along with the rest of the Ag Summit Series: Digital Yield Tour, here: https://www.dtn.com/…

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/….

Katie Dehlinger can be reached at katie.dehlinger@dtn.com

Follow her on Twitter at @KatieD_DTN

(c) Copyright 2023 DTN, LLC. All rights reserved.