DTN Retail Fertilizer Trends

DATE: 04/19/2018

By Russ Quinn
DTN Staff Reporter

OMAHA (DTN) -- Most average retail fertilizer prices continued their slow but steady trek higher the second week of April 2018, according to retailers surveyed by DTN.

Snapping a string of four straight weeks where prices for all eight major fertilizers were higher, prices for seven of the eight fertilizers were up while the price of one fertilizer was down last week compared to the previous month. However, for the fourth consecutive week, none of the fertilizers that saw price increases were up by a significant amount.

DAP had an average price of $482 per ton, MAP $504/ton, potash $353/ton, urea $369/ton, anhydrous $510/ton, UAN28 $241/ton and UAN32 $275/ton.

The one fertilizer that was slightly lower in price compared to the previous month was 10-34-0. The starter fertilizer had an average price of $427 per ton.

On a price per pound of nitrogen basis, the average urea price was at $0.40/lb.N, anhydrous $0.31/lb.N, UAN28 $0.43/lb.N and UAN32 $0.43/lb.N.

The seemingly never-ending wintery weather so far this spring is delaying fieldwork in many regions of the Corn Belt. While some areas have seen some work completed, including some corn planting, other locations have seen farmers do only a limited amount of fieldwork.

Jamin Ringger, a corn, soybean and hog producer from Gridley, Illinois, told DTN that "warm weather can't come fast enough" for Midwest farmers who want to plant their spring crops but also do other fieldwork such as apply fertilizer and complete tillage operations.

As a livestock producer, Ringger also has to apply manure to his fields before planting can occur. A decent stretch of weather around March 15 allowed him to get manure applied to his central Illinois fields, he said.

While he utilizes hog manure on his fields for some nutrient needs, he also needs to use commercial fertilizer. With an open window after harvest, Ringger said he was able to apply most of his fertilizer needs last fall.

"I hope it warms up soon for everyone and we can enjoy spring a little," he said.

Five of the eight major fertilizers are now higher compared to last year with prices pushing higher in recent months. Anhydrous is now 1% higher, potash is 4% more expensive, urea is 5% higher, MAP is 8% more expensive and DAP is 10% higher compared to last year.

The remaining three fertilizers are lower in price compared to a year ago. UAN32 is 2% less expensive while both 10-34-0 and UAN28 are 3% less expensive than a year ago.

DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.

DTN Pro Grains subscribers can find current retail fertilizer prices in the DTN Fertilizer Index on the Fertilizer page under Farm Business.

Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.

DTN's average of retail fertilizer prices from a month earlier ($ per ton):

DRY
Date Range DAP MAP POTASH UREA
Apr 10-13 2017 437 466 338 353
May 8-12 2017 437 466 340 351
Jun 5-9 2017 438 469 339 338
Jul 3-7 2017 436 467 339 325
Jul 31-Aug 4 2017 434 463 339 311
Aug 28-Sept 1 2017 433 457 338 303
Sep 15-29 2017 432 453 348 321
Oct 23-27 2017 431 453 347 325
Nov 20-24 2017 435 460 342 338
Dec 18-22 2017 445 485 344 348
Jan 15-19 2018 456 491 345 355
Feb 12-16 2018 457 495 345 357
Mar 12-16 2018 466 503 350 368
Apr 9-13 2018 482 504 353 369
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Apr 10-13 2017 441 505 247 280
May 8-12 2017 437 508 247 280
Jun 5-9 2017 435 503 246 278
Jul 3-7 2017 432 462 236 268
Jul 31-Aug 4 2017 426 418 227 262
Aug 28-Sept 1 2017 418 417 215 248
Sep 15-29 2017 413 396 208 243
Oct 23-27 2017 407 393 205 262
Nov 20-24 2017 403 410 216 272
Dec 18-22 2017 405 461 218 254
Jan 15-19 2018 407 485 226 260
Feb 12-16 2018 415 492 230 264
Mar 12-16 2018 421 503 237 282
Apr 9-13 2018 427 510 241 275

Futures

Previous Open High Low Last Change Close
CORN 382'0 381'2 381'6 376'2 376'4 -5'4 376'4
CORN 391'0 390'2 390'6 385'2 385'4 -5'4 385'4
CORN 398'4 398'0 398'0 392'6 393'0 -5'4 393'0
SOYBEANS 1037'2 1037'0 1038'4 1027'6 1028'6 -8'4 1028'6
SOYBEANS 1049'0 1048'6 1050'0 1039'4 1040'2 -8'6 1040'2
SOYBEANS 1050'4 1050'4 1051'6 1041'4 1042'0 -8'4 1042'0
WHEAT 476'6 476'2 476'6 462'2 463'2 -13'4 463'2
WHEAT 490'6 489'6 491'0 476'2 477'2 -13'4 477'2
LIVE CATTLE 117.800 118.200 119.425 117.150 119.350 1.550 119.350
LIVE CATTLE 103.000 103.500 104.000 101.625 103.725 0.725 103.725
LEAN HOGS 70.150 70.150 70.750 69.900 69.950 -0.200 69.950
LEAN HOGS 78.075 78.000 78.500 77.325 77.550 -0.525 77.550
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