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- DTN Headline News
DTN Retail Fertilizer Trends
By Russ Quinn
Wednesday, June 7, 2023 6:35AM CDT

OMAHA (DTN) -- After one week of mostly higher levels, retail fertilizer prices are again mostly lower, according to retail fertilizer prices tracked by DTN for the last week of May 2023.

Six of the eight major fertilizers are lower in price compared to last month. Only two fertilizers were substantially less expensive. DTN designates a significant move as anything 5% or more.

Anhydrous was 15% lower compared to the prior month and the nitrogen fertilizer had an average price was $791/ton. Urea was 6% lower looking back to last month with an average price of $622/ton.

Four other fertilizers were slightly lower compared to last month. DAP had an average price of $824/ton, potash $620/ton, 10-34-0 $739/ton, and UAN28 $413/ton.

Two fertilizers were slightly more expensive compared to a month ago. MAP had an average price of $832/ton and urea $622/ton.

On a price per pound of nitrogen basis, the average urea price was $0.68/lb.N, anhydrous $0.48/lb.N, UAN28 $0.74/lb.N and UAN32 $0.75/lb.N.

Last week, the Purdue University/CME Ag Economy Barometer fell to its weakest reading since July 2022. The barometer fell 19 points to a reading of 104 in the month of May, this was down from 123 in the April report (Purdue University-CME Group Ag Economy Barometer).

Weakness in crop prices has helped to push the index lower, according to the report. This month's survey was conducted from May 15-19, 2023.

When asked the question, "Looking ahead to next year, what are your biggest concerns for your farming operation?", you can see a dramatic jump from April to May with lower crop and/or livestock prices behind the answer. In April, just 17% of respondents had this response while in May it increased to 26%.

Not surprisingly, concerns about higher input prices have eased in recent months with retail fertilizer prices steadily declining.

In August 2022, over 50% of respondents said this was their biggest concern. By January 2023, the number fell to under 40%, and by the May report it was just 34%.

All fertilizers are now lower by double digits compared to one year ago. 10-34-0 is 18% less expensive, DAP is 22% lower, MAP is 23% less expensive, potash is 30%, both UAN28 and UAN32 are 35% lower, urea is 37% less expensive and anhydrous is 48% lower compared to a year prior.

DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.

In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….

A Singapore-based fertilizer manufacturer has asked its shareholders to approve a proposal to ban sales of its products in the Amazon rainforest, according to Dow Jones. You can read it here: https://www.dtnpf.com/….

Dry
Date Range DAP MAP POTASH UREA
May 30-Jun 3 2022 1056 1079 880 979
Jun 27-Jul 1 2022 1039 1053 885 867
Jul 25-20 2022 1005 1041 887 836
Aug 22-26 2022 972 1026 880 804
Sep 19-23 2022 950 1005 875 811
Oct 17-21 2022 930 986 863 826
Nov 14-18 2022 930 978 848 812
Dec 12-Dec 16 2022 902 939 807 779
Jan 9-Jan 13 2023 868 875 742 732
Feb 6-Feb 10 2023 840 857 694 693
Mar 6-Mar 10 2023 825 823 657 643
Apr 3-7 2023 818 809 642 625
May 1-5 2023 826 805 623 599
May 29-Jun 2 2023 824 832 620 622
Liquid
Date Range 10-34-0 ANHYD UAN28 UAN32
May 30-Jun 3 2022 905 1529 633 731
Jun 27-Jul 1 2022 904 1466 611 702
Jul 25-20 2022 894 1431 596 693
Aug 22-26 2022 869 1331 575 676
Sep 19-23 2022 860 1376 578 670
Oct 17-21 2022 759 1419 576 678
Nov 14-18 2022 753 1415 584 681
Dec 12-Dec 16 2022 750 1415 579 682
Jan 9-Jan 13 2023 754 1245 563 650
Feb 6-Feb 10 2023 755 1220 499 579
Mar 6-Mar 10 2023 740 1059 436 522
Apr 3-7 2023 740 1002 423 507
May 1-5 2023 739 926 424 507
May 29-Jun 2 2023 739 791 413 478

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

Follow him on Twitter @RussQuinnDTN


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