DTN Fertilizer Trends: Prices Inch Higher

    Fertilizer application in young corn. ©Debra L Ferguson Stock Photography

    Retail fertilizer prices were mostly higher in the first week of April 2020, according to prices tracked by DTN. However, prices remain in a familiar range from slightly lower to slighty higher.

    Six fertilizers were higher in price compared to last month with none of the six up a significant amount, which DTN considers a price move of 5% or more. Urea had a $14/ton price increase compared to the same time last month, the largest jump of the eight major fertilizers tracked by DTN. Its average price was $383/ton.

    Potash has an average price of $370/ton, up $1; 10-34-0 $467/ton, up $1; anhydrous $492/ton, up $2; UAN28 $235/ton, up fractionally; and UAN32 $278/ton, up $1.

    The remaining two fertilizers had lower prices compared to a month earlier. Just like the higher priced fertilizer, these fertilizers did not have any large price movement. DAP had an average price of $408/ton, up $1, while MAP was $432/ton, down fractionally.

    On a price per pound of nitrogen basis, the average urea price was at $0.42/lb.N, anhydrous $0.30/lb.N, UAN28 $0.42/lb.N and UAN32 $0.43/lb.N.

    Despite the recent COVID-19 news and the rapid downward movement in agricultural commodity markets, there are some positive signs in the fertilizer industry. Dow Jones reported last week Harvest Minerals Ltd. said it expects fertilizer demand to increase in 2020.

    The South American fertilizer producer forecasted demand to rise about 3% this year. The move comes as Brazilian producers benefit from a weaker local currency, which also makes it more expensive to import fertilizers from abroad.

    The company said orders at the end of January more than doubled compared to the previous year. To date, most of the COVID-19 cases in Brazil are in Sao Paulo and Rio de Janeiro, with no cases reported near the firm’s Arapua manufacturing site, according to Harvest Minerals.

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    Retail fertilizers are now all lower in price from a year ago. DAP is 20% lower, MAP is 19% less expensive, anhydrous is 18% lower, UAN28 is 14% less expensive, UAN32 is 13% lower, urea is 5% less expensive, potash is 4% lower and 10-34-0 is 2% less expensive from last year at this time.

    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
    Apr 1-5 2019 509 533 386 405
    Apr 29-May 3 2019 498 528 390 413
    May 27-31 2019 497 527 392 430
    Jun 24-28, 2019 495 531 392 429
    Jul 22-26 2019 495 531 394 430
    Aug 19-23 2019 491 495 387 413
    Sep 16-20 2019 480 478 384 404
    Oct 14-18, 2019 465 472 382 402
    Nov 11-15 2019 457 465 382 388
    Dec 9-13 2019 445 463 378 380
    Jan 6-10 2020 435 444 375 358
    Feb 3-7 2020 413 435 373 361
    Mar 2-6 2020 409 432 369 369
    Mar 30-Apr 3 2020 408 432 370 383
    Liquid
    Date Range 10-34-0 ANHYD UAN28 UAN32
    Apr 1-5 2019 474 599 272 319
    Apr 29-May 3 2019 487 595 268 315
    May 27-31 2019 487 590 270 314
    Jun 24-28, 2019 487 584 269 318
    Jul 22-26 2019 485 582 272 320
    Aug 19-23 2019 475 530 257 291
    Sep 16-20 2019 471 509 254 289
    Oct 14-18, 2019 471 507 253 289
    Nov 11-15 2019 473 496 246 284
    Dec 9-13 2019 470 489 241 276
    Jan 6-10 2020 471 486 237 272
    Feb 3-7 2020 464 490 235 277
    Mar 2-6 2020 466 490 235 277
    Mar 30-Apr 3 2020 467 492 235 278

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

    Follow him on Twitter @RussQuinnDTN

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