DTN Retail Fertilizer Trends

OMAHA (DTN) -- For the second week in a row, multiple retail fertilizer prices have substantial prices declines, according to prices tracked by DTN for the third week of September 2024.

Once again, seven of the eight major fertilizers were lower compared to last month. Three fertilizers had sizeable price declines. DTN designates a significant move as anything 5% or more.

Both potash and 10-34-0 led the way lower, down 7% looking back a month. Potash had an average price of $459/ton while 10-34-0 is at $594/ton.

Also lower was UAN32, which was 6% less expensive compared to last month. UAN32 had an average price of $351/ton.

Four other fertilizers were slightly lower compared to last month. DAP had an average price of $740/ton, MAP $814/ton, urea $485/ton and UAN28 $320/ton.

One fertilizer was slightly more expensive than a month ago. Anhydrous had an average price of $685/ton looking back a month.

On a price per pound of nitrogen basis, the average urea price was $0.53/lb.N, anhydrous $0.42/lb.N, UAN28 $0.57/lb.N and UAN32 $0.55/lb.N.

The Foundation for Food and Agriculture Research (FFAR) welcomes eight new members to the Efficient Fertilizer Consortium. In addition, these eight members will commit $8.45 million to the project.

The Efficient Fertilizer Consortium was first launched at the United Nations Climate Change Conference in 2022 as part of the Global Fertilizer Challenge, an effort to increase global attention to the importance of fertilizer use efficiency. The Global Fertilizer Challenge raised $135 million in new funding for fertilizer efficiency efforts in 2022.

The eight members are Agriculture and Agri-Food Canada, Azotic Technologies, Cotton Incorporated, ICL Group, the Novo Nordisk Foundation, OCP Group, Pivot Bio and the United Soybean Board. These members are investing money to applied and impactful research, according to a press release.

"The Efficient Fertilizer Consortium is a unique opportunity for multi-stakeholder collaboration that maximizes resources and de-risks applied research to improve our understanding of how these technologies perform in the field," said FFAR Scientific Project Manager Sarah Lyons. "We are excited to work alongside our fellow Consortium members and to grow the reach of the Consortium through additional partnerships."

All fertilizers but two are lower compared to one year ago. DAP is 5% higher while MAP is 8% higher looking back to last year.

The remaining six fertilizers are lower. 10-34-0 is 3% lower, both potash and UAN28 are 9% less expensive, anhydrous is 10% lower, UAN32 is 13% lower and urea is 14% lower compared to last year.

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/….

Rabobank recently released its semiannual fertilizer outlook report. You can read about it here: https://www.dtnpf.com/….

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

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