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DTN Retail Fertilizer Trends
Wednesday, March 1, 2023 8:33AM CDT
DTN Retail Fertilizer Trends 03/01 08:26
All Fertilizer Prices Lower Again
Retail fertilizer prices continue their march lower, according to prices
tracked by DTN for the third full week of February 2023. This trend has been
with us since before the beginning of the New Year.
Russ Quinn
DTN Staff Reporter
OMAHA (DTN) -- Retail fertilizer prices continue their march lower,
according to prices tracked by DTN for the third full week of February 2023.
This trend has been with us since before the beginning of the New Year.
All eight of the major fertilizer prices are once again lower compared to
last month. Five of the eight fertilizers had a substantial price decline. DTN
designates a significant move as anything 5% or more.
Leading the way lower was UAN32 and UAN28 once again. UAN32 was 12% lower
compared to last month while UAN28 was 10% less expensive. UAN32 had an average
price of $554/ton while UAN28 was at $470/ton.
Anhydrous was 9% lower looking back a month prior. The nitrogen fertilizer's
average price was $1,124/ton.
Both potash and urea were 6% less expensive compared to the month prior.
Potash had an average price of $673/ton and urea was $666/ton.
The remaining three fertilizers were all just slightly lower compared to the
prior month. DAP had an average price of $836/ton, MAP $834/ton and 10-34-0
$741/ton.
On a price per pound of nitrogen basis, the average urea price was at
$0.72/lb.N, anhydrous $0.69/lb.N, UAN28 $0.84/lb.N and UAN32 $0.86/lb.N.
The Fertilizer Institute (TFI) President and CEO Corey Rosenbusch, testified
before the House Committee on Agriculture hearing "Uncertainty, Inflation,
Regulations: Challenges for American Agriculture" on Tuesday, according to a
TFI press release (https://www.tfi.org/newsroom/2022/Ag_Comm_Hearing).
Much of Rosenbusch's testimony focused on the fact that fertilizer is a
globally traded commodity subject to international pressures and geopolitical
events.
"Domestic production of fertilizer accounts for only 7% of global production
and 90% of all fertilizer usage happens outside of the United States,"
Rosenbusch said. "Geopolitical events have been the biggest disrupter to
fertilizer markets in recent years."
These geopolitical events include sanctions on Belarus, which supplies 20%
of the world's potash supply; China, which is a major exporter of fertilizers,
but last year imposed restrictions on fertilizer exports; and Russia, which has
historically provided 20% of global fertilizer supplies as the world's largest
fertilizer exporter.
Rosenbusch offered solutions Congress could act on to improve domestic
fertilizer production and supply.
"Regulatory certainty is perhaps the most significant area Congress could
help," he said.
"Additionally, listing potash and phosphate as critical minerals, energy
policy that supports an abundant and affordable supply of natural gas,
permitting reform to streamline long-delayed fertilizer projects, focusing on
USDA conservation programs that empower agronomists and certified crop advisors
to help farmers with nutrient management and a focus on supply chain
bottlenecks through improved rail service and promoting driver recruitment and
retention."
All fertilizers are now lower compared to one year ago. DAP is 4% less
expensive, MAP and 10-34-0 are both 11% lower, potash is 17% less expensive,
UAN32 is 21% lower, UAN28 is 22% less expensive, anhydrous is 24% lower and
urea is 25% 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/agriculture/web/ag/markets/fuels-fertilizers%23!/fertilize
rs.
Global fertilizer supply shortages seen in 2022 will likely persist into
2023. You can read it here:
https://www.dtnpf.com/agriculture/web/ag/news/article/2023/02/21/uan-fertilizers
-push-prices.
Dry
Date Range DAP MAP POTASH UREA
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
Feb 20-Feb 24 2023 836 834 673 666
Liquid
Date Range 10-34-0 ANHYD UAN28 UAN32
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
Feb 20-Feb 24 2023 741 1124 470 554
Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
(c) Copyright 2023 DTN, LLC. All rights reserved.
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