DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continue to operate on both sides of unchanged, according to retailers tracked by DTN for the first week of January 2024.

For the second consecutive week, six of the eight major fertilizers were lower in price compared to last month while the remaining two fertilizers were slightly higher. DTN designates a significant move as anything 5% or more.

Once again only one fertilizer had a noteworthy price change compared to last month. Anhydrous was down 7% compared to last month with an average price of $789/ton.

The remaining five fertilizers were just slightly less expensive. MAP had an average price of $812/ton, potash $513/ton, urea $534/ton, UAN28 $336/ton and UAN32 $394/ton.

Two fertilizers, meanwhile, were just slightly higher in price compared to last month. DAP had an average price of $725/ton and 10-34-0 $599/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.58/lb.N, anhydrous $0.48/lb.N, UAN28 $0.60/lb.N and UAN32 $0.62/lb.N.

The recent Hypoxia Task Force's 2023 Report to Congress showed significant progress is being made in limiting fertilizer runoff into the Mississippi River and the Gulf of Mexico, according to a news release from The Fertilizer Institute (TFI).

While more work is needed to be completed, the report to Congress from the Hypoxia Task Force shows significant progress has been made in lowering nutrient losses to the marine environment, said TFI President and CEO Corey Rosenbusch.

One highlight of the report showed nitrogen loads in the Gulf's waters decreased by 20%. This was a goal not expected to be reached until 2025.

"TFI has long advocated for grower adoption of nutrient stewardship practices such as the 4Rs because they work," Rosenbusch said. "These prices keep fertilizers on fields where they belong and out of our nation's waterways where they don't belong."

TFI stated it will use the report to continue educating growers and policymakers about the benefits of implementing nutrient stewardship practices, saying smart application drives better yields, which in turn promote greater individual and collective health, wealth and well-being.

The Hypoxia Task Force is comprised of five federal agencies, 12 states along the Mississippi and Ohio rivers and the National Tribal Water Council. The group was formed in 2017.

All fertilizers except one are now lower by double digits compared to a year ago. MAP is 8% lower, DAP is 17% less expensive, 10-34-0 is 21% lower, urea is 28% less expensive, potash is 32% lower, anhydrous is 39% less expensive and both UAN28 and UAN32 are 41% 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/….

Fertilizer prices fell considerably during 2023, according to an article from the University of Arkansas Cooperative Extension Service. 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 known as Twitter, @RussQuinnDTN

(c) Copyright 2024 DTN, LLC. All rights reserved.