Retail Fertilizer Prices Continue Slightly Lower

OMAHA (DTN) — Retail fertilizer prices continue to be mostly lower, according to prices tracked by DTN for the third full week of August 2024. One fertilizer was slightly higher compared to a month ago.

For the fifth week in a row, no fertilizer price showed a substantial move in either direction. DTN designates a significant move as anything 5% or more.

Seven of the eight major fertilizers were slightly lower compared to last month. MAP had an average price of $816/ton, potash $493/ton, urea $492/ton, 10-34-0 $639/ton, anhydrous $668/ton, UAN28 $330/ton and UAN32 $373/ton.

Potash dropped below the $500/ton level for the first time since the first week of July 2021 when the price was $491/ton. Meanwhile, urea was also sub-$500/ton for the first time since the fourth week of March 2021 when the price was $499/ton.

One fertilizer was slightly higher looking back to last month. DAP had an average price of $745/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.54/lb.N, anhydrous $0.41/lb.N, UAN28 $0.59/lb.N and UAN32 $0.58/lb.N.

All fertilizers but three are lower in price compared to one year ago. DAP is 1% higher and both MAP and anhydrous are 7% higher looking back to last year.

The remaining five fertilizers are lower. Both UAN28 and UAN32 are 7% lower, 10-34-0 is 9% less expensive, potash is 12% lower and urea is 14% less expensive in price compared to a year prior.

On Saturday, Aug. 24, the Canadian Industrial Relations Board (CIRB) forced binding arbitration on all parties between the Teamsters Canada Rail Conference (TCRC) and the Canadian Pacific Kansas City (CPKC) and Canadian National (CN) railways. A potential work stoppage involving Canadian railroads could affect the movement of fertilizer in Canada, according to press release from Fertilizer Canada. You can read about it here: https://www.dtnpf.com/agriculture/web/ag/crops/article/2024/08/21/fertilizer-prices-slightly-fourth.

DTN Basis Analyst Mary Kennedy had a detailed look at the situation in her Cash Market Moves column from Sunday, Aug. 25: https://www.dtnpf.com/agriculture/web/ag/columns/cash-market-moves/article/2024/08/25/cirb-decision-reopens-cn-cpkc-sends.

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.

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

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