Most Fertilizer Prices Continue to Rise

OMAHA (DTN) — Retail fertilizer prices tracked by DTN for the fourth week of April 2024 continued to be slightly higher. Seven of the eight major fertilizers are higher in price compared to a month. 

Despite the increases, no fertilizer was up a considerable amount. DTN designates a significant move as anything 5% or more.

Seven fertilizers were slightly more expensive compared to last month. DAP had an average price of $781/ton, MAP $830/ton, urea $585/ton, 10-34-0 $641/ton, anhydrous $794/ton, UAN28 $364/ton and UAN32 $418/ton.

One fertilizer was slightly lower in price looking back a month. Potash was down just slightly and had an average price of $513/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.64/lb.N, anhydrous $0.48/lb.N, UAN28 $0.65/lb.N and UAN32 $0.65/lb.N.

In the most recent edition of the North American Agribusiness Review from Rabobank, their analysts believe the bridge collapse in the Port of Baltimore will have a limited effect on the UAN market. While roughly 15% of the U.S. UAN imports come through that port, it is important to temper fears of a shortage of UAN.

“Retail prices for UAN show all the usual cadences of seasonal cyclicality, often peaking in price in May,” according to the report. “This seasonal spread has tended to be quite tight, with price inflection [points] March-to-May over the previous ten years seldom in excess of 5% (at the retail level).”

Imports have been robust over the last 12 months and that is helping the UAN market. The price response to the closure was muted at best with little response at the wholesale level west of the Mississippi River and East Coast UAN wholesale prices are now trading below the March 26 price quote.

“Volumes are likely to be rerouted and supply met,” the report said.

Most fertilizers are lower compared to one year ago, but one fertilizer is slightly higher. MAP is 3% higher looking back a year.

The remaining fertilizers are lower. Urea is 2% less expensive, DAP is 6% lower, 10-34-0 13% less expensive, UAN28 is 14% lower, anhydrous is 15% less expensive and both potash and UAN32 are now 18% 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/agriculture/web/ag/markets/fuels-fertilizers#!/fertilizers.

The Fertilizer Recommendation Support Tool (FRST) was released last week, according to a press release from the University of Minnesota Extension You can read about it here: https://www.dtnpf.com/agriculture/web/ag/crops/article/2024/04/24/major-fertilizer-prices-continue.

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

Follow him on social platform X @RussQuinnDTN.