OMAHA (DTN) -- Average retail fertilizer prices were lower the third week of September 2019, marking the sixth consecutive week prices have declined, according to fertilizer retailers surveyed by DTN.
Prices for all eight of the major fertilizers were lower compared to the previous month, but unlike in recent weeks, none were down a significant amount, which DTN considers 5% or more.
DAP had an average price of $480 per ton, down $11 from last month; MAP $478/ton, down $17; potash $384/ton, down $3; urea $404/ton, down $9; 10-34-0 $471/ton, down $4; anhydrous $509/ton, down $21; UAN28 $254/ton, down $3; and UAN32 $289/ton, down $2.
On a price per pound of nitrogen basis, the average urea price was at $0.43/lb.N, anhydrous $0.31/lb.N, UAN28 $0.45/lb.N and UAN32 $0.45/lb.N.
With retail fertilizer prices declining over the last six weeks, it would be logical to assume farmers would be willing apply more fertilizer. But as we learned last week, many farmers never cut back on fertilizer when prices climbed over the last several years, so they weren't going to change their fertilizer plans much now.
There could some specific situations in which farmers could increase fertilizer application with these lower prices, said Jeremy Olson, an agronomist for Pederson Seed and Service in Hiawatha, Kansas.
Most of his growers will follow grid samples and apply fertilizer based on their yield goals. However, with lower retail fertilizer prices, there could be some opportunity to build fertilizer levels in the soil, he said.
"In low-fertility areas, we will try to catch up and build with the lower MAP prices or also on newly acquired fields with lower phosphorus (P) levels," Olson told DTN.
The same would be true with potash (K) applications, but Olson said he is advocating for all growers to at least spread potash on their soybean field in 2020. Some farmers in the northeastern Kansas region will only spread K on their corn fields.
"We are trying to build soils back up to 220 parts per million (ppm) or 3% to 4% on exchange sites," he said.
As prices have moved lower in recent weeks, two fertilizers are now cheaper than they were a year ago. MAP is now 8% less expensive, and DAP is 3% lower from last year at this time.
The remaining six major fertilizers continue to be higher compared to last year. Anhydrous is 3% more expensive, UAN32 is 4% higher, both urea and 10-34-0 are 5% more expensive, while both potash and UAN28 are 6% higher compared to last 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.
DRY
Date Range DAP MAP POTASH UREA
Sep 17-21 2018 494 520 362 384
Oct 15-19 2018 498 518 365 405
Nov 12-16 2018 500 530 368 407
Dec 10-14 2018 505 533 375 407
Jan 7-11 2019 508 533 381 407
Feb 4-8 2019 511 536 385 408
Mar 4-8 2019 510 534 386 403
Apr 1-5 2019 509 533 386 405
Apr 29-May 3 2019 498 528 390 413
May 27-31 2019 497 527 392 430
Jun 24-28, 2019 495 531 392 429
Jul 22-26 2019 495 531 394 430
Aug 19-23 2019 491 495 387 413
Sep 16-20 2019 480 478 384 404
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Sep 17-21 2018 448 494 239 278
Oct 15-19 2018 457 494 243 283
Nov 12-16 2018 457 519 245 287
Dec 10-14 2018 455 552 261 302
Jan 7-11 2019 461 573 267 304
Feb 4-8 2019 470 596 271 318
Mar 4-8 2019 470 596 270 317
Apr 1-5 2019 474 599 272 319
Apr 29-May 3 2019 487 595 268 315
May 27-31 2019 487 590 270 314
Jun 24-28, 2019 487 584 269 318
Jul 22-26 2019 485 582 272 320
Aug 19-23 2019 475 530 257 291
Sep 16-20 2019 471 509 254 289