DTN Fertilizer Trends: Prices Continue on High Side

    ©Debra L Ferguson Stock Photography

    Retail fertilizer prices for the third week of December 2021 continued to move higher, albeit at a slower pace.

    The percentage higher moves are not as much as they have been in recent weeks. In fact, all of the moves were in the single-digit range, something that hasn’t happened since the second week of September 2021.

    Only three of the eight major fertilizers are showing a significant move higher. DTN designates a significant move as anything 5% or greater.

    Leading the way higher is anhydrous, which was up 9% from a month prior. The nitrogen fertilizer’s average price was at $1,424/ton, which continues to be an all-time high in the DTN data.

    10-34-0 was 5% more expensive compared to last month. The starter fertilizer’s average price was at $791/ton.

    Urea was 5% more expensive compared to last month. The nitrogen fertilizer had an average price of $910/ton, which was also an all-time high.

    The remaining five fertilizers had just slight price increases compared to the prior month. DAP had an average price of $862/ton, MAP $932/ton, potash $807/ton, UAN28 $583/ton (all-time high) and UAN32 $679/ton (all-time high).

    Potash topped the $800/ton level for the first time since the fourth week of June 2009, when the price was $815/ton. The all-time high price for potash is $896/ton which was seen the first week of November 2008.

    On a price per pound of nitrogen basis, the average urea price was at $0.99/lb.N, anhydrous $0.87/lb.N, UAN28 $1.04/lb.N and UAN32 $1.06/lb.N.

    With rising input prices, led by the large increases in fertilizer prices, corn and soybean producers’ profitability will depend largely on the continued strength of grain prices, Dow Jones reported on Tuesday.

    University of Illinois’ Scott Irwin and Joe Janzen said demand for U.S. grains in the global market remains somewhat uncertain, while exports will determine the level of ending stocks for this marketing year and the state of play for the 2022 crop.

    “Rising input costs, particularly for fertilizer are squeezing projected margins,” the pair said.

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    The duo said the current data corroborates the idea that soybeans will meet export projections, but they are not sure about corn.

    Retail fertilizer prices compared to a year ago show all fertilizers have increased significantly with several having well over 100% price increases.

    10-34-0 is now 71% more expensive, MAP is 74% higher, DAP is 82% more expensive, potash is 121% higher, urea is 151% more expensive, UAN32 is 171% higher, UAN28 178% is more expensive and anhydrous is 208% higher compared to last year.

    DTN surveys more than 300 retailers, gathering roughly 1,700 fertilizer price bids, 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.

    Frustrated farmers are adjusting their spring planting plans because of the considerably higher fertilizer prices. You can read it here.

    The recent DTN Global Fertilizer Outlook series focused attention on what the world expectation could be in 2022. This series examined the supply and demand of nutrients globally as well as what direction fertilizer prices could go in 2022.

    • Read the nitrogen outlook here.
    • Read the phosphorus outlook here.
    • Read the potash outlook here.
    Dry
    Date Range DAP MAP POTASH UREA
    Dec 21-25 2020 474 535 365 363
    Jan 18-22 2021 493 563 379 387
    Feb 15-19 2021 600 648 404 457
    Mar 15-19 2021 616 693 424 496
    Apr 12-16 2021 624 702 432 509
    May 10-14 2021 631 702 437 515
    Jun 7-11 2021 656 717 450 527
    Jul 5-9 2021 690 729 491 549
    Aug 2-6 2021 695 755 557 556
    Aug 30-Sep 3 2021 697 756 571 557
    Sep 27-Oct 1 2021 722 800 647 620
    Oct 25-29 2021 812 873 731 751
    Nov 22-26 2021 830 915 775 868
    Dec 20-24 2021 862 932 807 910
    Liquid
    Date Range 10-34-0 ANHYD UAN28 UAN32
    Dec 21-25 2020 463 461 210 250
    Jan 18-22 2021 481 482 215 251
    Feb 15-19 2021 522 530 245 288
    Mar 15-19 2021 596 671 331 373
    Apr 12-16 2021 609 700 345 387
    May 10-14 2021 620 713 361 406
    Jun 7-11 2021 620 718 363 414
    Jul 5-9 2021 624 732 371 421
    Aug 2-6 2021 631 738 367 418
    Aug 30-Sep 3 2021 632 749 371 420
    Sep 27-Oct 1 2021 638 782 388 444
    Oct 25-29 2021 663 982 458 522
    Nov 22-26 2021 755 1308 574 660
    Dec 20-24 2021 791 1424 583 679

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

    Follow him on Twitter @RussQuinnDTN

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