DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the first full week of December 2022 continue mostly lower. As was the case last week, six of the eight major fertilizers are lower while two are higher compared to a month earlier.

Of the six fertilizers, they were all slightly lower compared to last month. DTN designates a significant move as anything 5% or more.

DAP had an average price of $926/ton, MAP $960/ton, potash $831/ton, urea $795/ton, 10-34-0 $753/ton and anhydrous $1,416/ton.

Urea dropped below the $800/ton level for the first time since the fourth week of October 2021. The nitrogen fertilizer's price then was $751/ton.

The remaining two fertilizers were slightly more expensive looking back to last month. UAN28 had an average price of $583/ton while UAN32 was at $681/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.86/lb.N, anhydrous $0.86/lb.N, UAN28 $1.04/lb.N and UAN32 $1.07/lb.N.

High input prices, including fertilizers, remain high on farmers' list of concerns, according to the most recent edition of the Purdue University/CME Group Ag Economy Barometer.

The index came in at 102 in November, unchanged from October. The Current Conditions Index declined three points to a reading of 98 in November while the Future Expectations Index increased two points to a reading of 104.

"Even though sentiment remained relatively unchanged in November, producers are continuing to look at their bottom line," James Mintert, the barometer's principal investigator and director of Purdue University's Center for Commercial Agriculture, said in a news release.

"Rising interest rates combined with high farm input and energy costs are creating a lot of uncertainty at the farm level."

The survey is calculated each month from 400 U.S. agricultural producers' responses to a telephone interview survey. The November survey was done Nov. 14-18 after the U.S. midterm elections.

The complete report for the November barometer can be viewed at https://ag.purdue.edu/….

Most fertilizers continue to be higher in price than one year earlier, although two are now slightly lower.

10-34-0 is now 1% lower while urea is 9% less expensive than one year ago. UAN28 is 1% higher, UAN32 is 3% more expensive, MAP is 5% higher, potash is 7% more expensive, anhydrous is 8% higher and DAP is 11% higher compared to last year.

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/….

The University of Nebraska-Lincoln (UNL) updated its 2023 Nebraska Crop Production Budgets last week. As expected, input costs were considerably higher. You can read it here: https://www.dtnpf.com/….

Russ Quinn can be reached at [email protected]

Follow him on Twitter @RussQuinnDTN

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