DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices continue to see significant price declines, according to prices tracked by DTN for the fourth week of January 2023. This trend has been in place since the beginning of the year.

Seven of the eight major fertilizers are lower compared to last month. Of these seven, five fertilizers were substantially lower, which DTN designates as a price change of 5% or more.

Leading the way lower is UAN28. The nitrogen fertilizer was 9% lower in price compared to last month and had an average price of $523/ton.

Potash, anhydrous and UAN32 were 7% less expensive looking back to last month. Potash had an average price of $714/ton, anhydrous $1,237/ton and UAN32 $630/ton.

Urea was 6% lower in price compared to the prior month. It had an average price of $708/ton.

Both DAP and MAP were slightly lower looking back to last month. DAP had an average price of $855/ton while MAP was $865/ton.

One fertilizer was just slightly higher in price compared to a month earlier. 10-34-0 had an average price of $754/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.77/lb.N, anhydrous $0.75/lb.N, UAN28 $0.93/lb.N and UAN32 $0.98/lb.N.

A recent University of Minnesota blog post titled "Nutrient management on owned vs. rented ground" looked at the various factors farmers should consider when applying fertilizer on owned ground versus rented ground.

Dan Kaiser, University of Minnesota Extension nutrient management specialist and Jeff Vetsch, University of Minnesota soil scientist, wrote that a "build and maintain" strategy may not be the best option for farmers renting ground, especially considering short-term land tenure. However, not applying any fertilizer and allowing soil tests to drop to low levels isn't good either.

"Applying only what the crop needs, which is what we call the "sufficiency approach," makes more sense in situations where you are willing to accept more risk or situations where soils cannot economically be built up to near the 100% critical level," they wrote.

While the sufficiency approach doesn't center on building soil test values, suggested fertilizer rates are typically in excess of crop removal for low-testing soils, with the goal of building soils to near medium soil test ranges. Maintaining soil tests near the 95% critical level makes more sense for renters because a fertilizer application is more likely to be profitable.

Regardless of whether the land is owned or rented, the authors remind farmers about the importance soil testing plays in applying nutrients.

To read the entire University of Minnesota report, click on the following link https://blog-crop-news.extension.umn.edu/….

All fertilizers are now lower compared to one year ago. DAP is 3% lower, both MAP and 10-34-0 are 8% less expensive, UAN32 is 10% lower, potash is 12% less expensive, UAN28 is 13% lower, anhydrous 17% less expensive and urea is 22% 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.

Retail fertilizer prices tracked by DTN show prices are the lowest they have been in 15 months. You can read it here: https://www.dtnpf.com/….

DTN recently published a series titled "Global Fertilizer Outlook" listed here:

To see Global Fertilizer Outlook - 1, go to: https://www.dtnpf.com/…

To see Global Fertilizer Outlook - 2, go to: https://www.dtnpf.com/…

To see Global Fertilizer Outlook - 3, go to: https://www.dtnpf.com/…

DRY
Date Range DAP MAP POTASH UREA

Jan 24-28 2022

877

936

814

910

Feb 21-25 2022

874

934

815

885

Mar 21-25 2022

1014

1018

850

976

Apr 18-22 2022

1050

1079

879

1012

May 16-20 2022

1059

1083

878

993

Jun 13-Jun 17 2022

1046

1074

879

961

Jul 11-15 2022

1030

1052

885

861

Aug 8-12 2022

982

1032

881

812

Sep 5-9 2022

952

1009

878

800

Oct 3-7 2022

934

997

869

826

Oct 31-Nov 4 2022

930

981

857

826

Nov 28-Dec 2 2022

926

960

831

795

Dec 26-Dec 30 2022

885

891

765

751

Jan 23-Jan 27 2023

855

865

714

708

LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32

Jan 24-28 2022

817

1492

601

699

Feb 21-25 2022

837

1488

602

703

Mar 21-25 2022

881

1523

622

698

Apr 18-22 2022

906

1534

631

730

May 16-20 2022

906

1529

634

731

Jun 13-Jun 17 2022

905

1516

630

730

Jul 11-15 2022

904

1449

606

701

Aug 8-12 2022

881

1365

578

678

Sep 5-9 2022

866

1357

579

658

Oct 3-7 2022

813

1390

565

652

Oct 31-Nov 4 2022

759

1426

583

680

Nov 28-Dec 2 2022

753

1416

583

681

Dec 26-Dec 30 2022

751

1325

573

679

Jan 23-Jan 27 2023

754

1237

523

630

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

Follow him on Twitter @RussQuinnDTN

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