DTN Retail Fertilizer Trends

OMAHA (DTN) -- Average retail prices for all but one fertilizer were higher during the third week of October 2023 compared to last month, according to sellers surveyed by DTN.

Prices for seven of the eight major fertilizers were higher compared to last month, with one up significantly, which DTN designates as anything 5% or more.

The only fertilizer price that was up considerably was anhydrous, which was 8% higher compared to a month prior. The nitrogen fertilizer had an average price of $825 per ton.

Six other fertilizers were just slightly higher than last month. DAP had an average price of $713/ton, MAP $799/ton, urea $574/ton, 10-34-0 $610/ton, UAN28 $360/ton and UAN32 $418/ton.

One fertilizer was just slightly lower in price compared to last month. Potash had an average price of $507/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.62/lb.N, anhydrous $0.50/lb.N, UAN28 $0.64/lb.N and UAN32 $0.65/lb.N.

Seventeen new projects were recently announced by USDA highlighting progress made in the push to increase domestic fertilizer production, according to a USDA news release from Oct. 16 (https://www.usda.gov/…). In 2022, USDA made $500 million available under the Fertilizer Production Expansion Program.

"With President (Joe) Biden's leadership, USDA is creating a resilient, sustainable and competitive agricultural economy, which allows farmers to continue doing what they do best by growing food for the rest of the world," Agriculture Secretary Tom Vilsack said. "Through a farmer-focused commitment, we will continue to build on our efforts to lower costs, bring made-in-America jobs to rural communities, and strengthen the agricultural supply chain and market opportunities to the benefit of producers.

Three examples of projects funded as part of the recent announcement include Northstar Lime LLC of Crookston, Minnesota, which was offered a $4.4 million grant to include manufacturing and processing of fertilizer and nutrient alternatives; True Organic Products Inc. of Boardman, Oregon, which was offered a $5 million grant to expand its organic fertilizer production plant to manufacture pelleted organic fertilizer made from local waste byproducts; and Dairy Dreams of Casco, Wisconsin, which was offered a $2.5 million grant to construct a nutrient concentration system and a pelleting system on a dairy farm to convert manure to domestically manufactured fertilizer.

All fertilizers are now lower by double digits compared to one year ago. MAP is 19% lower, 10-34-0 is 20% less expensive, DAP is 23% lower, urea is 31% less expensive, both UAN28 and UAN32 are 38% lower, potash is 41% lower and anhydrous is 42% 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.

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

Last week, DTN Staff Reporter Todd Neeley wrote about the North Dakota Farmers Union calling on the state's lawmakers to retain a program designed to support in-state fertilizer production. You can read about it here: https://www.dtnpf.com/….

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

Follow him on X, formerly Twitter, @RussQuinnDTN

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