DTN Fertilizer Trends: UAN32 5% Lower Than Last Month

©Debra L Ferguson

Retail fertilizer prices tracked by DTN for the first week of December 2019 continued to move lower. One change from recent weeks is all eight of the major fertilizer are now lower after several weeks of seven of the eight being lower.

While all eight of the major fertilizers were lower in price from the month earlier, only one was significantly lower, which DTN designates as 5% or more. UAN32 was 5% lower compared to last month and the nitrogen fertilizer had an average price of $276.

The remaining seven fertilizers were lower in price, but none were considerably lower. DAP had an average price of $445/ton, MAP $463/ton, potash $379/ton, urea $381/ton, 10-34-0 $470/ton, anhydrous $490/ton and UAN28 $242/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.41/lb.N, anhydrous $0.30/lb.N, UAN28 $0.43/lb.N and UAN32 $0.43/lb.N.

As we approach the end of the year many farmers will purchase various inputs for tax purposes. Among the inputs farmers will buy is fertilizer for the next growing season.

I was curious to know what percentage of farmers buy ahead, so I put up a poll on Twitter. I will freely admit when I first joined Twitter didn’t know how it would benefit me, but it is very useful as an easy way to reach the farmers who follow me.

My poll question: “So I was curious to know how farmers are handling their fertilizer needs as we close in on year end. What best describes your situation?” The answer choices were: Locking in all nutrients; Locking in some nutrients; and Not locking in nutrients.

My one-day poll had 25 respondents with 54% choosing “Locking in all nutrients”. Twenty-nine percent responded with not locking in nutrients and 17% selected locking in some nutrients.

I really wasn’t surprised by the results. I figured a majority would say they locked in all or some of their needs.

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It was a little surprising that not locking in nutrients was the second most popular response. This poll shows that while some farmers might be willing to lock in all of their fertilizer needs before the end of the year, a certain percentage of farmers will not be doing this.

Retail fertilizers are mixed in price from a year ago. MAP is now 13% less expensive, DAP is 11% lower, urea is 7% less expensive, both anhydrous and UAN32 are 6% lower and UAN28 is 1% less expensive from last year at this time. In addition, both potash and 10-34-0 are 3% 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.

DRY
Date Range DAP MAP POTASH UREA
Dec 3-7 2018 501 529 369 410
Dec 31-Jan 4 2019 508 533 381 407
Jan 28-Feb 1 2019 513 536 384 407
Feb 25-Mar 01 2019 511 535 386 404
Mar 25-29 2019 509 534 385 401
Apr 22-26 2019 497 530 388 408
May 20-24 2019 497 527 392 428
Jun 17-21 2019 496 532 392 435
Jul 15-19, 2019 497 532 392 430
Aug 12-16 2019 493 503 387 413
Sep 9-13 2019 486 482 385 407
Oct 7-11, 2019 472 473 383 403
Nov 4-8 2019 462 471 384 396
Dec 2-6 2019 445 463 379 381
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Dec 3-7 2018 457 524 249 293
Dec 31-Jan 4 2019 460 571 267 304
Jan 28-Feb 1 2019 468 585 271 313
Feb 25-Mar 01 2019 470 596 270 318
Mar 25-29 2019 470 597 269 318
Apr 22-26 2019 483 594 268 315
May 20-24 2019 487 595 270 314
Jun 17-21 2019 487 589 270 318
Jul 15-19, 2019 485 585 275 317
Aug 12-16 2019 475 543 258 295
Sep 9-13 2019 471 516 253 289
Oct 7-11, 2019 470 509 253 289
Nov 4-8 2019 473 499 249 289
Dec 2-6 2019 470 490 242 276

Russ Quinn can be reached at russ.quinn@dtn.com

Follow him on Twitter @RussQuinnDTN

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