DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continue their recent path of floating around unchanged, according to prices tracked by DTN for the third week of December 2023.

According to retail sellers surveyed by DTN, five of the eight major fertilizers were higher in price compared to last month and the other three fertilizers were slightly lower. DTN designates a significant move as anything 5% or more.

Only one fertilizer had a notable price move compared to last month. Urea was down 6% and had an average price of $537/ton.

Two fertilizers were down just slightly: Anhydrous had an average price of $807/ton and UAN32 was $402/ton.

Five fertilizers were just slightly higher in price compared to last month. DAP had an average price of $721/ton, MAP $815/ton, potash $517/ton, 10-34-0 $599/ton and UAN28 $342/ton.

On a price per pound of nitrogen basis, the average urea price was $0.58/lb.N, anhydrous $0.49/lb.N, UAN28 $0.61/lb.N and UAN32 $0.63/lb.N.

The situation with natural gas in Europe is considerably different heading into winter this year compared to a year ago, according to Dow Jones. The European Union (EU) was worried about supply last year and this winter storage tanks are 95% full.

But there was a cost of this supply. European natural gas prices are about twice their 10-year average, according to analysts.

The heaviest blow might fall on the industry as cheap Russian natural gas accounted for a third or more EU supplies before Russia invaded Ukraine.

This more expensive natural gas has kept industries going, including steel, aluminum, fertilizer and ceramics. EU steel production dropped 11% in 2022 and again in 2023.

That is one reason Germany's economy is facing its first recession in three decades. This economy is mirrored in many eastern and central European countries, according to analysts.

All fertilizers are now lower by double digits compared to one year ago: MAP by 10%, DAP 19%, 10-34-0 by 20%, urea 29%, potash 35%, and anhydrous, UAN28 and UAN32 are 41% cheaper.

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/….

DTN Lead Analyst Todd Hultman had some interesting fertilizer-related comments in his presentation at the 2023 DTN Ag Summitt earlier this month. You can read about it here: https://www.dtnpf.com/….

If you missed seeing the DTN Global Fertilizer Outlook series last month, you can access it at the following links:

"Global Nitrogen Fertilizer Supply, Demand Outlook Generally Favorable," https://www.dtnpf.com/…

"Lower Prices, More Demand Globally Thanks to Increased Phosphorus Fertilizer Supplies," https://www.dtnpf.com/…

"Positive Potash Outlook Seen With Lower Prices, More Global Demand, Higher Supply," https://www.dtnpf.com/…

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

Follow him on X, formerly known as Twitter, @RussQuinnDTN.

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