DTN Fertilizer Trends: Generally Higher, 10-34-0 Breaks $800

    Most retail fertilizer prices were slightly higher the third week of January 2022. But as was the case last week, one fertilizer was lower in price looking back a month.

    Seven of the eight major fertilizers were slightly higher, although none were up a considerable amount. DTN designates a significant move as anything 5% or more.

    DAP had an average price of $863 per ton compared to last month, MAP $932/ton, urea $916/ton (all-time high), 10-34-0 $800/ton, anhydrous $1,433/ton (all-time high), UAN28 $585/ton (all-time high) and UAN32 $683/ton (all-time high).

    10-34-0 hit the $800/ton level for the first time in this historic rise of retail fertilizer prices. The last time it was this high was the first week of March 2012 when starter fertilizer was $807/ton.

    Like last week, one fertilizer was just slightly lower in price compared to a month ago. Potash was down just slightly and had an average price of $807/ton.

    On a price per pound of nitrogen basis, the average urea price was at $1.00/lb.N, anhydrous $0.87/lb.N, UAN28 $1.04/lb.N and UAN32 $1.07/lb.N.

    Crops such as corn and wheat probably jump to most peoples’ minds when discussing fertilizer applications. However, other crops such as forages also need to be well fertilized to produce high yields.

    In a post titled “Fertilizer Prices: How to Get Most of Your Application,” Mississippi State University Extension Forage Specialist Rocky Lemus wrote that livestock producers also need to be conscious of how much fertilizer is applied. (See here.)

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    In fact, forage crops export far more nutrients off the field than grain crops because most of the above-ground growth is removed as utilized forage, he wrote in the online Forage News newsletter.

    Most of the time, forage producers are applying fertilizer without knowing the needs of existing forage crops and without knowing the soil nutrient reserves that are available. To have a better understanding of fertilizer needs and cost, producers should do soil samples, Lemus wrote.

    “Producers should collect a representative soil sample in field sections no greater than 10 acres and to a minimum depth of 6 inches,” Lemus wrote. “If legumes are present in the pasture, the percent of legumes and species in the stand should be included to obtain a more effective fertilizer recommendation.”

    Forage producers need to develop a well-managed and efficient fertilization plan, which can increase profitability depending on soil tests. Select a fertilizer mix that will give you the needed nutrients but at an economic advantage, he wrote.

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

    MAP is now 69% more expensive, 10-34-0 is 71% higher, DAP is 78% more expensive, potash is 116% higher, urea is 146% more expensive, UAN32 is 176% higher, UAN28 179% is more expensive and anhydrous is 202% 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.

    The Federal Reserve Board is expecting the income of U.S. farmers to drop in 2022, according to Dow Jones. You can read it here.

    The DTN Global Fertilizer Outlook series in December focused attention on world expectations for 2022. This series examined the supply and demand of nutrients globally as well as what direction fertilizer prices could go this year.

    Read the nitrogen outlook here.

    Read the phosphorus outlook here.

    Read the potash outlook here.

    DRY
    Date Range DAP MAP POTASH UREA
    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
    Jan 17-21 2022 863 932 807 916
    LIQUID
    Date Range 10-34-0 ANHYD UAN28 UAN32
    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
    Jan 17-21 2022 800 1433 585 683

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

    Follow him on Twitter @RussQuinnDTN

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