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DTN Retail Fertilizer Trends
Russ Quinn 1/20 9:09 AM
OMAHA (DTN) -- A majority of retail fertilizer prices tracked by DTN for the second week of January 2021 continue to be higher.
Six of the eight major fertilizer prices were higher compared to the prior month. Two were up a significant amount, which DTN designates as 5% or more.
MAP was up 6% looking back to last month with an average price of $551/ton, up $29. Anhydrous was 5% higher compared to last month with an average price of $474/ton, up $24.
Four other fertilizers were higher from a year earlier, but not by more than 5%. DAP had an average price of $486/ton, up $20; potash $373/ton, up $13; urea $373/ton, up $12; and 10-34-0 $469/ton, up $6.
The remaining two fertilizers were slightly lower in price from last month. UAN28 had an average price of $210/ton, down less than $1, while UAN32 is at $247/ton, down $5.
On a price per pound of nitrogen basis, the average urea price was at $0.41/lb.N, anhydrous $0.29/lb.N, UAN28 $0.37/lb.N and UAN32 $0.39/lb.N.
It is a tale of two groups when you take a deeper dive into the retail fertilizer price data. With prices increasing over the last few months, I thought it would be interesting to look at prices two and three months ago.
DAP, MAP and anhydrous led the charge higher at the end of 2020 and the first couple weeks of 2021. Each fertilizer has seen prices increase, but by how much?
The second week of October 2020 DAP was at $445/ton and the second week of November 2020 it was at $454/ton. With the average price the second week of January 2021 at $486/ton, the difference shows an increase three months ago of $41/ton and two months ago $32/ton.
MAP, meanwhile, had an average price of $475/ton the second week of October 2020 and an average price of $486/ton the second week of November 2020. With the average price of the second week of January 2021 at $551/ton, the difference three months ago is an increase of $76/ton and two months ago $65/ton.
And finally anhydrous had an average price of $424/ton the second week of October 2020 and an average price of $422/ton the second week of November 2020. Anhydrous now has an average price of $474/ton for the second week of January 2021, the difference is a $50/ton increase looking back to three months ago and $52/ton rise two months ago.
The other end of the spectrum is what UAN28 and UAN32 have done the last three months. Spoiler alert -- they have not moved at all.
The UAN28 average price for the second week of October 2020 was $209/ton and the average price for the second week of November 2020 was $208/ton. The average price for the second week of January 2021 was $210/ton, the difference looking back three months was a whole $1/ton and $2/ton two months ago.
UAN32 is almost a carbon copy of UAN28. The UAN32 average price for the second week of October 2020 was $249/ton while it was at $248/ton for the second week of November 2020. With the average price for UAN32 at $247/ton the second week of January 2021, there was just $1/ton looking back three months and a $2/ton difference from two months ago.
A tale of two retail fertilizer groups indeed.
Retail fertilizer prices continue to be mostly lower in price from a year ago but there are a few exceptions. Urea is 4% more expensive, DAP is 12% higher while MAP is 24% more expensive compared to last year.
Both potash and 10-34-0 are 1% less expensive, anhydrous is 3% lower, UAN32 is 10% lower and UAN28 is 11% less expensive from last year at this time.
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 email@example.com
Follow him on Twitter @RussQuinnDTN
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