For the most part, retail fertilizer prices remain slightly higher the first week of August 2018, although some are showing downward movement compared to last month, according to retailers surveyed by DTN.
Just like last week, five of the eight major fertilizers were higher compared to last month, but none increased by a significant amount. DAP had an average price of $487 per ton, MAP $507/ton, potash $356/ton, urea $363/ton and 10-34-0 $445/ton.
Three fertilizers were slightly lower from the previous month, but the move to the low side was subdued. Anhydrous had an average price of $482/ton, UAN28 $233/ton and UAN32 $271/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.29/lb.N, UAN28 $0.42/lb.N and UAN32 $0.42/lb.N.
Some farmers begin locking in fall fertilizer prices for the upcoming growing season around this time of year, but DTN finds many nutrient buying strategies this year include a wait-and-see approach.
Wayne Martin, a corn and soybean farmer from Shelby, Iowa, told DTN he hasn’t been in contact with his fertilizer retailers.
“I normally don’t buy fertilizer until December anyway,” Martin said.
He has faced a challenging growing season this year in southwestern Iowa. Hail damaged his crops earlier in the growing season, and he expects corn production to be half of his typical harvest.
Martin has also had to battle a new soybean pest that arrived after the hail, the soybean gall midge. DTN/PF’s Pam Smith wrote about Martin’s fight with this tiny but destructive insect earlier in this month. You can find that story here.
Martin said its going “to be hard to get in the mood to spend money” for the next growing season with low grain prices and the bad greensnap his corn has seen this year.
All eight of the major fertilizers are now higher compared to last year with prices shifting higher in recent months. 10-34-0 is 1% higher, potash is 5% more expensive, both UAN28 and UAN32 are 8% higher, MAP is 9% higher, DAP is 12% more expensive, urea is 18% higher and anhydrous is 19% more expensive compared to last year.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
DTN’s average of retail fertilizer prices from a month earlier ($ per ton):
|Aug 7-11 2017||434||462||339||311|
|Sep 4-8 2017||431||458||338||302|
|Oct 2-6 2017||425||453||348||323|
|Oct 27-Nov 3 2017||434||455||348||330|
|Nov 27-Dec 1 2017||435||460||342||340|
|Dec 25-29 2017||448||488||344||348|
|Jan 22-26 2018||458||492||344||353|
|Feb 19-23 2018||460||496||345||357|
|Mar 19-23 2018||469||504||349||368|
|Apr 16-20 2018||484||502||353||368|
|May 14-18 2018||483||505||354||368|
|Jun 11-15 2018||484||505||354||364|
|Jul 9-13 2018||485||504||354||366|
|Aug 6-10 2018||487||507||356||363|
|Aug 7-11 2017||440||419||224||258|
|Sep 4-8 2017||418||413||215||248|
|Oct 2-6 2017||413||399||208||243|
|Oct 27-Nov 3 2017||405||401||208||262|
|Nov 27-Dec 1 2017||403||417||216||271|
|Dec 25-29 2017||407||468||216||254|
|Jan 22-26 2018||415||490||226||261|
|Feb 19-23 2018||416||495||231||265|
|Mar 19-23 2018||422||503||236||269|
|Apr 16-20 2018||431||508||240||275|
|May 14-18 2018||439||510||241||276|
|Jun 11-15 2018||440||503||241||277|
|Jul 9-13 2018||443||505||242||279|
|Aug 6-10 2018||445||482||233||271|
Russ Quinn can be reached at firstname.lastname@example.org
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