Each week, I write down how many fertilizers are lower and higher in price, and it took me seven steno note pads to find this information.
Looking at this time frame, during the entire months of August and September 2017, a majority of retail fertilizer prices were lower, according to the data. This represents the last major move lower in the retail fertilizer market.
Prices for a couple fertilizers have either moved or could move into interesting territory soon if this price trend continues.
UAN32’s price, for example, was at $295 per ton last week, the first time the fertilizer’s price has been under $300 per ton since the first week of December 2018 when the price was at $293 per ton.
The price of MAP last week was at $503 per ton. If it drops below $500 per ton, it would be the first time since the fourth week of February 2018 when the price was at $497 per ton.
Retailers have told me quite often over the last couple of years that retail fertilizer prices never “reset” themselves, which was why prices were higher. Previously, the normal pattern was for retail fertilizer prices to move higher in the fall and spring due to increased demand and then decline in the summer and winter with lower demand. However, prices haven’t followed this pattern for the last several years for some reason.
Now, for the first time in almost two full years, it appears retail fertilizer prices are seeing a uniform price decline. In a world full of negative agricultural news, this might be one piece of good news for crop producers if prices continue to decrease.
With prices significantly lower this week, one fertilizer’s price is now lower than it was a year ago. MAP is now 1% less expensive from last year at this time.
Seven of the eight major fertilizers continue to be higher compared to last year. DAP is 1% higher, 10-34-0 is 7% more expensive, both potash and UAN32 are now 9% higher, UAN28 is 11% more expensive, anhydrous is 13% higher and urea is 14% more expensive 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.