Retail fertilizer prices continue to skyrocket into historical price ranges the third week of October 2021, according to sellers surveyed by DTN. All but one of the eight major fertilizers had price increases of 10% or more compared to last month.
Leading the way higher is urea, which was up 26% compared to last month. The nitrogen fertilizer had an average price of $735 per ton.
Anhydrous was up 22% compared to the prior month. The nitrogen fertilizer had an average price of $940/ton. It’s the first time anhydrous crossed the $900/ton level since the fourth week of November 2008. That week, the price was $946/ton.
UAN28 is 18% more expensive looking back to last month. The fertilizer has an average price of $451/ton. UAN32 wasn’t up quite as much at $492/ton, 13% more than a month ago.
Potash is up 15% compared to last month and has an average price of $716/ton.
DAP was 14% more expensive than last month with an average price of $810/ton. DAP crossed the $800/ton level for the first time since the first week of December 2008. That week, the price was $813/ton.
MAP was 10% higher and had an average price of $863/ton.
The remaining fertilizer, 10-34-0, was 4% higher compared to last month. DTN designates a move of 5% or higher as a significant increase or decrease. The starter fertilizer had an average price of $659/ton. That’s still $200/ton more than what farmers paid at this time last year.
On a price per pound of nitrogen basis, the average urea price was at $0.80/lb.N, anhydrous $0.57/lb.N, UAN28 $0.81/lb.N and UAN32 $0.77/lb.N.
Rising fertilizer prices could be affecting which crops farmers plant, not only in North America but also in South America, specifically Brazil.
Dow Jones reported last week increasing fertilizer costs appear to be affecting planting of Brazil’s corn crop. The scope of this situation, however, remains unclear.
Arlan Suderman of StoneX said there are already unconfirmed reports of fertilizer shortages in Brazil.
“Those shortages may become more pronounced, though, as we move into 2022 if we remain on the same trajectory,” Suderman said.
Dow Jones also reported higher fertilizer prices are affecting European plantings and may pressure the decisions of U.S. farmers if these higher nutrient prices continue.
While there are no easy answers for farmers in the current market, there are important questions to ask. DTN Staff Reporter Emily Unglesbee outlines them here.
Retail fertilizer prices compared to a year ago show prices for all fertilizers have increased significantly.
10-34-0 is now 45% more expensive, MAP is 81% higher, DAP is 82% more expensive, UAN32 is 97% higher, urea is 105% more expensive, UAN28 is 115% higher, potash 116% is more expensive and anhydrous is 122% higher compared to last year.
DTN gathers fertilizer price bids from around 300 retailers to compile the DTN Fertilizer Index each week. In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here.
An Illinois farmer is putting much thought into his fertilizer plans for the 2022 growing season. You can read it here: here.
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|Nov 16-20 2020||455||488||336||358|
|Dec 14-18 2020||466||522||360||361|
|Jan 11-15 2021||486||551||373||373|
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|Oct 18-22 2021||810||863||716||735|
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|Oct 18-22 2021||659||940||451||492|
Russ Quinn can be reached at firstname.lastname@example.org
Follow him on Twitter at @RussQuinnDTN