DTN Retail Fertilizer Trends: Expect More Nitrogen Demand In 2021

    Retail fertilizer prices continue to be generally mixed, according to retailers tracked by DTN for the second week of November 2020.

    The prices of five of the eight major fertilizers were down from last month, but none were lower by a significant amount, which DTN designates as 5% or more. Urea had an average price of $358/ton, down $1; 10-34-0 $455/ton, down $2; anhydrous $422/ton, down $2; UAN28 $208/ton, down $1; and UAN32 $248/ton, down $1.

    Three fertilizers were slightly higher in price compared to last month, but again none were up a sizeable amount. DAP had an average price of $454/ton, up $9; MAP $486/ton, up $11; and potash $333/ton, up $1.

    On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.26/lb.N, UAN28 $0.37/lb.N and UAN32 $0.39/lb.N.

    CF Industries said an improving farm economy in the U.S. will drive healthy plantings for corn and other crops next year, according to Dow Jones. This, in turn, supports demand for the company’s nitrogen fertilizer.

    The fertilizer giant predicts U.S. farmers will plant 90 million acres of corn in 2021, while also increasing wheat and canola acres. Farmers are benefiting from higher corn prices and billions of dollars in federal aid payments.

    CF hit record sales volumes for the first nine months of 2020, but sales revenue dropped 15% due to lower prices. Shares rose 3.6% after CF reported a $28 million loss in 3Q and missed analysts’ earnings estimates.

    Prices are mostly lower than a year ago with one lone exception. MAP is 5% more expensive than last year.

    The remaining seven fertilizers are all lower than a year earlier. DAP is 1% lower, 10-34-0 is 4% less expensive, urea is 8% lower, potash and UAN32 are both 13% less expensive, anhydrous is 15% lower and UAN28 16% 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
    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
    Apr 27-May 1 2020 413 433 370 386
    May 25-29 2020 410 434 365 377
    Jun 22-26 2020 404 429 363 359
    Jul 20-24, 2020 407 428 360 358
    Aug 17-21 2020 427 434 353 356
    Sep 14-18 2020 434 448 344 360
    Oct 12-16 2020 445 475 332 359
    Nov 9-13 2020 454 486 333 358
    LIQUID
    Date Range 10-34-0 ANHYD UAN28 UAN32
    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
    Apr 27-May 1 2020 468 492 237 279
    May 25-29 2020 468 478 236 279
    Jun 22-26 2020 468 463 233 273
    Jul 20-24, 2020 466 460 225 263
    Aug 17-21 2020 465 445 220 259
    Sep 14-18 2020 455 431 219 253
    Oct 12-16 2020 457 424 209 249
    Nov 9-13 2020 455 422 208 248

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