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    DTN Fertilizer Trends: DAP, 10-34-0 Lead Prices Higher

    ©Debra L Ferguson

    Retail fertilizer prices tracked by DTN continued to be mostly higher the second week of March 2022. Two fertilizers spiked considerably higher.

    For the second week in a row, seven of the eight major fertilizers were higher compared to the previous month, but only two were up a significant amount. DTN designates a significant move as anything 5% or more.

    DAP and 10-34-0 were both 5% higher compared to last month. DAP had an average price of $919 per ton, while 10-34-0 was at $866/ton.

    The remaining five fertilizers were slightly higher. MAP had an average price of $955/ton, potash $822/ton, anhydrous $1,490/ton, UAN28 $603 (all-time high price) and UAN32 $704/ton (all-time high price).

    One fertilizer was slightly lower compared to the prior month. Urea had an average price of $901/ton.

    On a price per pound of nitrogen basis, the average urea price was at $0.98/lb.N, anhydrous $0.91/lb.N, UAN28 $1.08/lb.N and UAN32 $1.10/lb.N.

    USDA announced on Friday it will support additional fertilizer production to address the rising cost of nutrients. The government agency will put $250 million in a grant program to support new fertilizer production, according to a USDA news release.

    To address the growing competitive concerns, USDA will also launch a public inquiry seeking information regarding seeds and agricultural inputs, fertilizer and retail markets.

    “Recent supply chain disruptions from the global pandemic to (Russian President Vladimir) Putin’s unprovoked war against Ukraine have shown just how important it is to invest in this crucial link in the agricultural supply chain here at home,” said Agriculture Secretary Tom Vilsack. “The planned investment is one example of many Biden-Harris administration initiatives to bring production and jobs back to the United States, promote competition, and support American goods and services.” (Read more on what Vilsack had to say at Commodity Classic here.)

    USDA will use funds from the Commodity Credit Corporation (CCC) set aside in September for market disruptions to develop a grant program. This will provide “gap” financing to bring new, independent domestic fertilizer production capacity online, similar to the recently announced meat and poultry grants that are designed to promote competition in that sector.

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    Details on the application process will be announced in the summer of 2022, with the first awards expected before the end of 2022.

    USDA will seek information specifically on fertilizer, seed and agricultural inputs and retail and wholesale markets. The comment period will be for 60 days once the requests for information are published in the Federal Register.

    USDA will use the comments to develop reports and policies relating to fair and competitive markets, according to the release. Subsequent actions might range from new grant and loan programs to additional rules and regulations under the Packers and Stockyards Act of 1921 and other relative laws to increase fairness and competition in American agriculture markets.

    Most fertilizers continue to be considerably higher in prices than one year earlier.

    MAP is now 38% more expensive, 10-34-0 is 49% higher, DAP is 50% more expensive, urea is 87% higher, potash is 95% more expensive, UAN28 is 97% higher, UAN32 104% is more expensive and anhydrous is 139% higher compared to last year.

    DTN surveys about 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.

    Brazil is looking for new sources for fertilizers as the Russia-Ukraine military conflict threatens to cut off shipments of nutrients to the South American agriculture giant. You can read it here.

    DRY
    Date Range DAP MAP POTASH UREA
    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
    Jun 28-Jul 2 2021 677 721 476 542
    Jul 26-30 2021 695 753 549 554
    Aug 23-27 2021 697 756 569 557
    Sep 20-24 2021 709 786 625 585
    Oct 18-22 2021 810 863 716 735
    Nov 15-19 2021 825 911 769 859
    Dec 13-17 2021 858 935 796 901
    Jan 10-14 2022 863 932 807 913
    Feb 7-11 2022 876 935 815 905
    Mar 7-11 2022 919 955 822 901
    LIQUID
    Date Range 10-34-0 ANHYD UAN28 UAN32
    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
    Jun 28-Jul 2 2021 625 730 366 421
    Jul 26-30 2021 631 737 365 419
    Aug 23-27 2021 632 748 370 420
    Sep 20-24 2021 633 772 383 436
    Oct 18-22 2021 659 940 451 492
    Nov 15-19 2021 739 1220 571 651
    Dec 13-17 2021 790 1420 579 663
    Jan 10-14 2022 796 1430 584 679
    Feb 7-11 2022 827 1487 600 699
    Mar 7-11 2022 866 1490 603 704

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

    Follow him on Twitter at @RussQuinnDTN

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