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DTN Retail Fertilizer Trends
Urea Prices Increase 10% as Five Fertilizers' Prices Jump Significantly2/3/2021 | 5:10 AM CST
Russ Quinn
By , DTN Staff Reporter
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Urea prices jumped $38 per ton this week to $405/ton, a 10% increase. The nitrogen fertilizer now costs 13% more than it did last year. (DTN chart)
OMAHA (DTN) -- Average retail prices for all eight major fertilizers were higher the fourth week of January 2021, with prices for five fertilizers up a significant amount, which DTN designates as 5% or more, according to retailers surveyed by DTN.
Urea led the way to the upside and was 10% higher compared to last month with an average price of $405 per ton, a gain of $38. It also marks the first time that urea has been above the $400/ton level in two years.
Also higher was MAP, which was 8% more expensive from last month. The phosphorus fertilizer had an average price of $580/ton, up $43.
Two fertilizers were 6% higher than last month. UAN28 had an average price of $220/ton, up $18, while 10-34-0 was at $489/ton, up $25.
DAP was 5% higher compared to last month. The phosphorus fertilizer had an average price of $500/ton, $25 more than last month. This marks the first time DAP has been at or above the $500/ton level since the third week of April 2019, when the fertilizer's price was at $504/ton.
The remaining three fertilizers were also higher, but just not as much. Potash had an average price of $379/ton, up $13; anhydrous $489/ton, up $19; and UAN32 $258/ton, up $8.
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On a price per pound of nitrogen basis, the average urea price was at $0.44/lb.N, a 2-cent gain from last month; anhydrous $0.30/lb.N, unchanged; UAN28 $0.39/lb.N, unchanged; and UAN32 $0.40/lb.N, up 1 cent.
The run-up in retail fertilizer prices over the last several months has mainly to do with the amount of fertilizer that was applied this fall, according to Bob Spratt, manager of LeRoy Fertilizer Services located in LeRoy, Illinois. Replacement prices have come in higher than last fall.
"The run-up is due to the supply chain being drawn down due to the big (application) last fall," Spratt told DTN.
The weather in central Illinois, as it was across the Corn Belt, was extremely cooperative for fall fertilizer application. Thus, many tons of fertilizer were applied in the window after harvest and before the beginning of winter.
Also playing a factor in higher retail fertilizer prices is the rally in grain prices. Retail fertilizer tends to follow corn prices higher once a rally starts.
Spratt said the short-term price trend in retail fertilizers is mainly steady to higher.
"I would say, like fuel, fertilizer prices are 'sticky downward' and will probably stay at or near the current levels," he said. (
Sticky-down refers to the tendency of the price of a good to move up easily, although it won't easily move down)
With retail fertilizer prices moving higher over recent months, most fertilizers are now higher in price from a year ago, but there are a couple exceptions. Both potash and anhydrous are now 1% more expensive, 10-34-0 is 5% higher, urea is 13% more expensive, DAP is 21% higher and MAP is 33% more expensive compared to last year.
Only two fertilizers are still lower compared to last year. UAN32 is 6% lower, while UAN28 is 7% less expensive.
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
Jan 27-31 2020 414 435 373 359
Feb 24-28 2020 409 434 371 366
Mar 23-27 2020 409 434 370 382
Apr 20-24 2020 410 433 370 385
May 18-22 2020 409 434 367 387
Jun 15-19 2020 405 429 363 360
Jul 13-17 2020 406 428 361 359
Aug 10-14 2020 426 434 353 355
Sep 7-Sep 11, 2020 434 445 345 360
Oct 5-9 2020 441 466 335 361
Nov 2-6 2020 447 479 331 358
Nov 30-Dec 4 2020 455 499 340 359
Dec 28-Jan 1 2021 475 537 366 367
Jan 25-29 2020 500 580 379 405
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Jan 27-31 2020 467 488 237 275
Feb 24-28 2020 466 490 235 277
Mar 23-27 2020 466 491 235 278
Apr 20-24 2020 468 492 236 279
May 18-22 2020 469 490 237 280
Jun 15-19 2020 468 464 233 273
Jul 13-17 2020 468 460 225 263
Aug 10-14 2020 465 447 221 259
Sep 7-Sep 11, 2020 459 434 216 253
Oct 5-9 2020 457 424 209 250
Nov 2-6 2020 455 423 208 248
Nov 30-Dec 4 2020 459 427 208 249
Dec 28-Jan 1 2021 464 470 209 250
Jan 25-29 2020 489 489 220 258
www.dtnpf.com/agriculture/web/ag/crop...,.N%2C%20up%201%20cent.