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.
|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|
|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 firstname.lastname@example.org
Follow him on Twitter @toddneeleyDTN