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DTN Retail Fertilizer Trends
Russ Quinn 7/17 1:17 PM
OMAHA (DTN) -- Retail fertilizers tracked by DTN for the second week of July 2019 show more of the same with prices once again mixed. As has been the trend in recent weeks, no fertilizer price moved significantly in either direction.
Five fertilizers were higher compared to last month with none up a sizable amount. DAP had an average price of $497/ton, MAP $532/ton, potash $392/ton, UAN28 $276/ton and UAN32 $317/ton.
Three fertilizers were slightly lower compared to last month but again the move lower was fairly small. Urea had an average price of $431/ton, 10-34-0 $485/ton and anhydrous $585/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.47/lb.N, anhydrous $0.36/lb.N, UAN28 $0.49/lb.N and UAN32 $0.50/lb.N.
With crop margins tight, farmers are always trying to control input costs. Fertilizer is a major cost in crop production and over application can lead to decreased profitability.
In a post from The University of Minnesota Extension Crop News website titled "5 Tips for Cutting Phosphorus, Potassium Fertilizer Costs," Extension Soil Fertility Specialist Dan Kaiser wrote that while the use of commercial fertilizers is vital for high productivity, there are a few ways to help to trim fertilizer costs and still maintain profitability.
First, do soil tests as the results tell how likely it is that a crop will respond to a nutrient. Soil tests are indexes of nutrient availability for crops and high soil test values suggest it is unlikely fertilizer application is needed, Kaiser wrote.
Second, short-term reductions in the application rates of phosphorus (P) and potassium (K) do not result in rapid depletion of nutrients. While a reduction in soil test levels over time is expected as nutrients are removed from the soil and are not replaced, the rate of depletion is slow even with no fertilizer application, he wrote.
"Our research has consistently found that applying two thirds to one half of the expected removal of P or K can maintain soil test values in the medium to high classifications without risking a reduction in yield," Kaiser wrote.
Using variable rate technology and consider application timing are other ways farmers can trim fertilizer costs while still maintaining profitability.
To read the entire the Minnesota Crop News post click on the following link: https://blog-crop-news.extension.umn.edu/…
All eight of the major fertilizers are now higher compared to last year. DAP is 3% higher, MAP is 6% more expensive, 10-34-0 is 10% higher, potash is 11% more expensive, both UAN28 and UAN32 are 14% higher, anhydrous is 16% more expensive and urea is 18% higher compared to last year.
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.
Russ Quinn can be reached at firstname.lastname@example.org
Follow him on Twitter @RussQuinnDTN
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