DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the fourth week of August 2023 continue to move mostly lower. But there was one exception.

All but one of the eight major fertilizer prices were down a considerable amount. DTN designates a significant move as anything 5% or more.

After months of lower prices, anhydrous broke to the high side last week. The nitrogen fertilizer was 7% higher compared to last week and now has an average price of $680/ton. Some retailers have now moved to fall prices, which appear to be higher.

Leading the way lower was 10-34-0 and potash. Starter fertilizer was 15% lower compared to last month and had an average price of $607/ton, while potash was 11% less expensive and had an average price of $518/ton.

UAN28 was 6% lower compared to the prior month and the nitrogen fertilizer had an average price of $355/ton. DAP, MAP and UAN32 were all 5% less expensive than last month and DAP had an average price of $730/ton, MAP $736/ton, and UAN32 $391/ton.

One fertilizer was just slightly lower compared to last month. Urea had an average price of $563/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.61/lb.N, anhydrous $0.41/lb.N, UAN28 $0.63/lb.N and UAN32 $0.61/lb.N.

The most recent edition of the University of Minnesota Extension Nutrient Management Podcast discussed this fall's fertilizer outlook, including prices and availability. The 37-minute podcast can listed to here: https://blog-crop-news.extension.umn.edu/….

Brad Carlson, extension educator of the regional office in Mankato, said fall booking of anhydrous was at about $600/ton in his area of the state. This price was significantly lower from where prices have been in recent years, he said.

Retailers also told him booking urea price for spring was around $498/ton. The fact retailers are even willing to lock in fertilizer for the spring this early is good news for farmers.

"The fact that they're comfortable booking spring urea right now and quoting a price, I think that says something as far as where the market has gone as far as the stability is concerned," Carlson said.

Daniel Kaiser, nutrient management specialist with University of Minnesota Extension located on the St. Paul campus, said he has not received many questions this summer from farmers about the availability of fertilizers. He did have a farmer in the Faribault area ask him about using triple superphosphate instead of MAP because it sounded like they were having some issues getting MAP in his area.

"I mean it's not a bad consideration if you are applying or want to apply fall phosphate," Kaiser said.

All fertilizers are now lower by double digits compared to one year ago. DAP is 23% lower, MAP is 28% less expensive, both urea and 10-34-0 are 30% lower, UAN28 is 38% less expensive, potash is 41% lower, UAN32 is 42% less expensive and anhydrous is 50% 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 Fertilizer Institute (TFI) CEO Corey Rosenbusch expressed disappointment in the latest revised Waters of the U.S. (WOTUS) Rule from the EPA, according to TFI press release. You can read about it here: https://www.dtnpf.com/….

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

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