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.
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