TN Retail Fertilizer Trends
Stagnant Retail Fertilizer Prices Hover Near Record Highs
6/1/2022 | 10:23 AM CDT
Russ Quinn
By , DTN Staff Reporter
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At $989/ton, the average price of urea is down slightly from last month and $42/ton from the record high set in early April. (DTN chart)
OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the fourth week of May 2022 show mostly slight increases, but some slightly lower prices as well. This is the second week in a row that three fertilizers' prices have declined.
Five fertilizers' prices were higher compared to last month, but none were up a considerable amount. DTN designates a significant move as anything 5% or greater.
DAP had an average price of $1,056/ton, MAP $1,082/ton, 10-34-0 $906/ton, UAN28 $634/ton and UAN32 $731/ton (all-time high).
Three fertilizers were slightly less expensive compared to last month, but again, the price changes amounted to less than 5%. Potash had an average price of $879/ton, urea $989/ton and anhydrous $1,531/ton.
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On a price per pound of nitrogen basis, the average urea price was at $1.08/lb.N, anhydrous $0.93/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N.
Grain prices are expected to remain elevated and this will help support fertilizer prices, according to Dow Jones. In a recent research report by Piper Sandler's Charles Neivert, the analyst said grain prices look to remain high in 2022 thanks to robust demand coupled with reduced global grain output, in part because of the Ukraine/Russia conflict.
"The high grain value will likely incentivize growers in 2023 to add more acres where possible and use the optimal application rates of nutrients," Neivert said.
Grain prices could ease some in 2023, but remain elevated; a long-term change, he said, is yet to be perceived by investors.
Most fertilizers continue to be considerably higher in price than one year earlier.
10-34-0 is 46% more expensive, MAP is 53% higher, DAP is 62% more expensive, UAN28 is 75% higher, UAN32 is 80% more expensive, urea is 89% is higher, potash is 98% higher and anhydrous is 113% more expensive 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.
Potash is one nutrient whose price could climb in the near future thanks to the military conflict between Ukraine and Russia, according to a Kansas State University Extension Agricultural Economist. You can read it here: .
DRY
Date Range DAP MAP POTASH UREA
May 24-28 2021 652 709 443 523
Jun 21-25 2021 670 720 469 541
Jul 19-23 2021 695 750 543 553
Aug 16-20 2021 695 755 564 556
Sep 13-17 2021 702 776 598 572
Oct 11-15 2021 798 860 710 719
Nov 8-12 2021 821 906 762 832
Dec 6-10 2021 840 919 778 887
Jan 3-7 2022 863 931 809 913
Jan 31-Feb 4 2022 877 933 813 905
Feb 28-Mar 4 2022 879 937 815 887
Mar 28-Apr 1 2022 1033 1045 868 1022
Apr 25-29 2022 1049 1082 881 1004
May 23-27 2022 1056 1082 879 989
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
May 24-28 2021 619 719 361 407
Jun 21-25 2021 625 724 366 420
Jul 19-23 2021 632 736 365 419
Aug 16-20 2021 631 743 369 420
Sep 13-17 2021 632 762 381 428
Oct 11-15 2021 654 873 442 488
Nov 8-12 2021 719 1162 566 614
Dec 6-10 2021 756 1372 577 661
Jan 3-7 2022 795 1430 584 679
Jan 31-Feb 4 2022 826 1487 600 699
Feb 28-Mar 4 2022 837 1487 603 703
Mar 28-Apr 1 2022 896 1526 637 711
Apr 25-29 2022 906 1534 631 730
May 23-27 2022 906 1531 634 731