DTN Fertilizer Trends: Price Climb Continues at Slower Rate

©Debra L Ferguson Stock Photography

Marginally higher retail fertilizer prices are again the feature of the market, according to prices for the last day of May and the first four days of June 2021. This marks the third straight week of slightly higher fertilizer prices.

As has been the case in recent weeks, no fertilizer’s price was significantly higher, which DTN designates as 5% or more.

The largest increase was in UAN32, where the average retail price gained 3.5% to $412/ton. DAP, at $652/ton, was 3% higher than last month.

Urea and potash were each up 2%, at $524/ton and $443/ton, respectively.

The average retail price of MAP, anhydrous and UAN28 all increased 1%. MAP was $712/ton, anhydrous $719/ton, UAN28 $363/ton.

10-34-0 had an average price of $619/ton, up less than 1% compared to last month.

On a price per pound of nitrogen basis, the average urea price was at $0.57/lb.N, anhydrous $0.44/lb.N, UAN28 $0.65/lb.N and UAN32 $0.64/lb.N.

Farmers in many places of the Corn Belt are applying nitrogen fertilizer in side-dressing operations right now. A recent article in the University of Minnesota Extension Minnesota Crop News blog titled “Are Split Applications of Nitrogen Fertilizer in Minnesota Worth It?” examined the practice and its effectiveness.

Authors Gabriel Dias Paiao, a graduate research assistant, and Fabian Fernandex, an Extension nutrient management specialist, wrote that split applications of nitrogen fertilizer are “undoubtedly beneficial” in areas of Minnesota with sandy soils, which have low nutrient and water holding capacity. However, in other parts of the state with different soils, the results have been inconsistent and are largely influenced by weather conditions.

Recent studies in fine-textured soils both in Minnesota and across the Corn Belt show excessive precipitation after a single pre-plant nitrogen application results in greater susceptibility in early season loss. On the other hand, a lack of precipitation after in-season application reduces grain yield in comparison to a single pre-plant application, due to the fertilizer being unavailable for crop uptake.

“Unfortunately, the accuracy of season-long weather is still low and limits our ability to preemptively adjust management decisions to consistently maximize input efficiency in response to weather conditions,” the authors wrote. “This means that management decisions often have to be made based on the results of research trials from past years and previous experience on the likelihood of a desired outcome.”

To read the entire blog post from the University of Minnesota Extension, click here.

With retail fertilizer prices moving higher over recent months, all fertilizers are now higher in price from a year ago.

Potash is now 22% more expensive, 10-34-0 is 32% higher, urea is 41% more expensive, UAN32 49% higher, anhydrous is 51% more expensive, UAN28 is 54% higher, DAP is 60% more expensive and MAP 65% is higher 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
Jun 1-5 2020 407 431 364 373
Jun 29-Jul 3 2020 406 427 361 357
Jul 27-31 2020 410 429 358 355
Aug 24-28 2020 430 435 352 355
Sep 21-25 2020 434 453 338 361
Oct 19-23 2020 446 476 332 359
Nov 16-20 2020 455 488 336 358
Dec 14-18 2020 466 522 360 361
Jan 11-15 2021 486 551 373 373
Feb 8-12 2021 588 642 398 453
Mar 8-12 2021 615 690 423 483
Apr 5-9 2021 618 699 431 504
May 3-7 2021 634 705 436 514
May 31-Jun 4 2021 652 712 443 524
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Jun 1-5 2020 468 475 236 276
Jun 29-Jul 3 2020 468 461 233 272
Jul 27-31 2020 465 454 223 262
Aug 24-28 2020 464 442 219 258
Sep 21-25 2020 457 425 215 253
Oct 19-23 2020 456 424 209 249
Nov 16-20 2020 455 422 207 249
Dec 14-18 2020 463 450 210 253
Jan 11-15 2021 469 474 210 247
Feb 8-12 2021 512 524 243 285
Mar 8-12 2021 581 625 306 344
Apr 5-9 2021 605 692 341 378
May 3-7 2021 618 712 358 398
May 31-Jun 4 2021 619 719 363 412

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

Follow him on Twitter @RussQuinnDTN

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