DTN Retail Fertilizer Trends
Russ Quinn 1/23 9:34 AM
OMAHA (DTN) -- Fertilizer prices have been trending higher for several months now, and that trend continued this week with prices of all eight major fertilizers moving higher, according to retail fertilizer prices tracked by DTN for the second week of Jan. 2019.
While all fertilizers were higher compared to last month, none of the fertilizers were up a notable amount, which DTN considers a price move of 5% or more. DAP had an average price of $512/ton, up $4; MAP $534/ton, up $2; potash $383/ton, up $6; urea $407/ton, up fractionally; 10-34-0 $462/ton, up $5; anhydrous $580/ton, up $15; UAN28 $270/ton, up $5; and UAN32 $305/ton, up $1.
On a price per pound of nitrogen basis, the average urea price was at $0.44/lb.N, anhydrous $0.35/lb.N, UAN28 $0.48/lb.N and UAN32 $0.48/lb.N.
Retail fertilizers ended 2018 with considerably higher prices than when the year began.
"All fertilizers were costlier at the end of 2018 compared to 2017," wrote George Silva of Michigan State University (MSU) Extension in a recent post of fertilizer prices. "This contrasts with the relatively stable and low prices of 2017."
Silva said low commodity prices should not lead to drastic reductions in fertilizer use, because limiting fertilizer use may lead to unnecessary risk of economic yields losses.
MSU Extension recommends farmers rely on soil testing and realistic yield goals in determining phosphorus (P) and potassium (K) fertilizer application rates. Knowing how much P and K are found in the soil is a reliable guideline.
"It is worth noting that about 60% to 70% of soil samples tested in Michigan show adequate phosphorus, but only 20% to 25% samples show adequate potassium," he wrote. "Also, consider variable rate applications as a best practice to optimize fertilizer returns."
The MSU article can be viewed at: https://www.canr.msu.edu/…
All eight major fertilizers are now higher compared to last year. MAP is 9% higher, potash is 11% more expensive, DAP is 12% higher, 10-34-0 is 14% more expensive, urea is 15% higher, UAN32 is 18% more expensive and both anhydrous and UAN28 are 20% higher compared to last year.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
DTN's average of retail fertilizer prices from a month earlier ($ per ton):
Russ Quinn can be reached at firstname.lastname@example.org
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