DTN Retail Fertilizer Trends

DATE: 02/15/2018

By Russ Quinn
DTN Staff Reporter

OMAHA (DTN) -- Most average retailer fertilizer prices continued their upward trend the first week of February 2018, according to retailers surveyed by DTN.

All but one of the eight major fertilizers were higher compared to a month earlier. No fertilizer was up a noteworthy amount.

DAP had an average price of $458 per ton, MAP $493/ton, urea $355/ton, 10-34-0 $415/ton, anhydrous $492/ton, UAN28 $227/ton and UAN32 $261/ton.

One fertilizer was actually slightly lower for the third week in a row compared to the previous month. Potash had an average price of $344 per ton.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.30/lb.N, UAN28 $0.41/lb.N and UAN32 $0.41/lb.N.

One area of the country that might see less fertilizer demand due to a shift of some acres away from corn to spring wheat is the Northern Plains. Because of higher spring wheat prices and this crop needing less fertilizer, some farmers in the region might consider planting more spring wheat.

One such farmer is Aaron Frerichs, who farms with his brother Jason near Wilmot, South Dakota. While final planting plans could change, depending on what the futures market is telling farmers to plant, Frerichs said corn acres on his northeastern South Dakota farm could be down anywhere from 5% to 10%, as they have decided to plant more acres of spring wheat.

"For our farm, spring wheat works better than corn, as our fields have a majority of lighter soils," Frerichs told DTN.

"The last two years, we've been blessed with late-July and August rains, and so that has made a huge difference on making an excellent corn crop on any lighter soils. So we are hoping to reduce some risk by planting spring wheat on those fields."

Frerichs said they pre-purchased all their fertilizer needs back in September 2017 for the rapidly approaching 2018 growing season. Higher fertilizer prices would not be conducive for increasing corn acres in their region, he said.

Prices for all but three fertilizers are now higher compared to last year with prices pushing higher in recent months. Both urea and anhydrous are now 1% more expensive, potash is 4% higher, DAP is 6% more expensive and MAP is 10% higher than last year.

Three fertilizers are still lower in price compared to a year prior. UAN32 is 4% lower as is UAN28, and 10-34-0 is 6% less expensive looking back a year.

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 price 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
Feb 6-10 2017 431 448 330 354
Mar 03-10 2017 436 460 336 361
Apr 3-7 2017 438 466 338 354
May 1-5 2017 436 466 339 351
May 29-Jun 2 2017 436 471 340 339
Jun 26-30 2017 437 470 340 333
Jul 24-28 2017 434 462 338 308
Aug 21-25 2017 434 458 338 304
Sep 18-22 2017 429 452 345 312
Oct 16-20 2017 432 452 348 340
Nov 13-17 2017 435 459 342 339
Dec 11-15 2017 439 479 343 340
Jan 8-12 2018 456 491 346 352
Feb 5-9 2018 458 493 344 355
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Feb 6-10 2017 440 485 238 273
Mar 03-10 2017 441 503 246 279
Apr 3-7 2017 441 505 248 280
May 1-5 2017 436 508 247 280
May 29-Jun 2 2017 436 503 248 280
Jun 26-30 2017 435 484 238 268
Jul 24-28 2017 425 423 229 265
Aug 21-25 2017 419 417 216 248
Sep 18-22 2017 416 402 211 248
Oct 16-20 2017 413 397 205 262
Nov 13-17 2017 403 410 216 272
Dec 11-15 2017 403 434 218 256
Jan 8-12 2018 410 479 220 258
Feb 5-9 2018 415 492 227 261

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

Follow Russ Quinn on Twitter @RussQuinnDTN

(AG/BAS)

Futures

Previous Open High Low Last Change Close
CORN 367'4 369'0 370'0 365'4 365'4 -2'0
CORN 375'0 376'2 378'0 373'4 373'6 -1'2
CORN 382'6 384'0 385'4 381'2 381'4 -1'2
SOYBEANS 1021'4 1031'4 1039'0 1024'4 1026'6 5'2
SOYBEANS 1032'4 1041'6 1050'0 1035'4 1037'2 4'6
SOYBEANS 1042'2 1050'0 1059'2 1045'0 1047'0 4'6
WHEAT 457'6 459'6 463'2 449'2 450'0 -7'6
WHEAT 471'4 474'0 477'2 462'2 463'2 -8'2
LIVE CATTLE 130.100 130.525 130.525 129.775 130.300 0.200 130.300
LIVE CATTLE 127.650 127.900 127.950 127.200 127.725 0.075 127.725
LEAN HOGS 68.150 68.475 70.025 68.300 69.200 1.050 69.200
LEAN HOGS 74.925 75.325 76.525 75.325 76.000 1.075 76.000
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