Most Fertilizer Prices Slightly Higher for Second Straight Week

OMAHA (DTN) — For the second straight week, more retail fertilizer prices were higher than lower compared to last month. And, once again, no fertilizer saw a significant price move in either direction. 

Prices for six of the eight major fertilizers were higher in the week of Feb. 19-23 compared to a month earlier. Prices for the remaining two fertilizers were lower. For the fifth consecutive week, no fertilizer price moved significantly, which DTN designates as anything 5% or more.

Of the six fertilizers with a higher price, DAP had an average price of $749 per ton, MAP $812/ton, urea $534/ton, 10-34-0 $615/ton, UAN28 $339/ton and UAN32 $393/ton.

Prices for the remaining two fertilizers, meanwhile, were just slightly lower compared to last month. Potash had an average price of $506 per ton, while anhydrous was at $764/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.58/lb.N, anhydrous $0.47/lb.N, UAN28 $0.61/lb.N and UAN32 $0.61/lb.N.

Kansas State University (KSU) farm management Extension specialist Gregg Ibendahl said in a recent KSU Extension news release that he believes fertilizers will be on a different price trend in 2024 compared to 2023. He is also urging producers not to follow last year’s buying patterns.

“I don’t think waiting and buying fertilizer this spring will allow much saving because fertilizer has been rising a good portion of the winter,” Ibendahl said in the news release.

Ibendahl said he believes fertilizer will most likely be steady during the year and thinks there is not much downside potential with fertilizer prices. The chances of fertilizer going higher is the bigger risk to producers in 2024, he said.

All fertilizers except one are now lower by double digits compared to one year ago. MAP is 3% lower, DAP is 11% less expensive, 10-34-0 is 17% lower, urea is 20% less expensive, potash is 25% lower, UAN28 is 28% less expensive, UAN32 is 29% lower and anhydrous is 32% lower compared to the 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 Institute (TFI) recently expressed some alarm with the Environmental Protection Agency’s (EPA) lowering of the National Ambient Air Quality Standards (NAAQS), according to a TFI news release. You can read about it here: https://www.dtnpf.com/agriculture/web/ag/crops/article/2024/02/21/fertilizer-prices-now-higher.

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

Follow him on X, formerly known as Twitter, @RussQuinnDTN

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

Follow him on X, formerly known as Twitter, @RussQuinnDTN.