DTN Fertilizer Trends: Nutrien, Mosaic Company Earnings Fall

©Debra L Ferguson Stock Photography

Prices dropped for seven of eight fertilizers tracked by DTN in the first week of November, as prices continued their downward trend of the past few months.

DAP continued to lead the way in price declines since last month, this time dropping $12 per ton to $464. DAP is now 8% less expensive than one year ago.

Anhydrous showed an $8 per ton drop in price to $503, down only fractionally from one year ago.

Four fertilizers tracked by DTN showed $2 drops in price including MAP at $472. MAP has seen the largest price drop during the past year, down 11% from one year ago.

Urea fell from $404 to $402 per ton and is down 1% from a year ago. UAN28 dropped $2 to $251 and is 3% less expensive than one year ago. 10-34-0 recorded a $2 drop to $468, and is 2% less expensive than one year ago. Potash reported the smallest price drop of $1 to $383. Potash is down %5 from one year ago.

The price of UAN32 reported the only increase in this update from $289 to $291 per ton. However, UAN32 is 2% less expensive than a year ago.

On a price per pound of nitrogen basis, the average urea price was at $0.44/lb.N, anhydrous $0.31/lb.N, UAN28 $0.45/lb.N and UAN32 $0.46/lb.N.

On Monday, two major fertilizer companies, Nutrien and Mosaic Company, saw earnings fall and are making production adjustments.

“Nutrien’s third-quarter results and fourth-quarter expectations are impacted by short-term market softness,” said Nutrien President and Chief Executive Officer Chuck Magro in a news release. “However, we believe that agriculture fundamentals are starting to strengthen and we expect 2020 to be a strong year for crop input demand for which we are well positioned to benefit.”

Mosaic Company reported on Monday it is taking action in response to lower-than-expected margins in phosphates.

“The company has announced a series of actions to temporarily lower production in both phosphates and potash to match demand in 2019 and expects those efforts will position the company to capitalize on opportunities in 2020,” the company said in a news release.

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
Oct 29-Nov 2 2018 506 528 366 408
Nov 26-30 2018 501 530 369 409
Dec 24-28 2018 507 533 379 407
Jan 21-25 2019 512 535 383 409
Feb 18-22 2019 512 536 385 404
Mar 18-22 2019 509 533 386 401
Apr 15-19 2019 504 531 388 404
May 13-17 2019 498 526 392 426
Jun 10-14 2019 497 527 392 434
Jul 8-12, 2019 497 532 392 431
Aug 5-9 2019 495 531 395 428
Sep 2-6 2019 491 488 387 408
Sep 30-Oct 4, 2019 476 474 384 404
Oct 28-Nov 1 2019 464 472 383 402
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Oct 29-Nov 2 2018 457 505 245 285
Nov 26-30 2018 457 519 246 287
Dec 24-28 2018 457 568 266 303
Jan 21-25 2019 467 584 270 313
Feb 18-22 2019 470 596 271 317
Mar 18-22 2019 470 597 270 318
Apr 15-19 2019 481 594 270 317
May 13-17 2019 487 595 267 311
Jun 10-14 2019 487 591 271 314
Jul 8-12, 2019 485 585 276 317
Aug 5-9 2019 491 580 272 320
Sep 2-6 2019 473 522 255 290
Sep 30-Oct 4, 2019 470 511 253 289
Oct 28-Nov 1 2019 468 503 251 291

Todd Neeley can be reached at todd.neeley@dtn.com

Follow him on Twitter @toddneeleyDTN

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