Retail Fertilizer Prices Mixed; More Are Lower Than Higher

OMAHA (DTN) — Retail fertilizer prices tracked by DTN for the first week of May 2024 show more fertilizers were lower in price than higher in price compared to a month ago. This was the first time in three months, since the first week of February 2024, that more fertilizers were lower than higher.

For the first time in five weeks, a fertilizer moved a considerable amount in either direction. DTN designates a significant move as anything 5% or more.

Urea was 5% lower in price looking back to last month. The nitrogen fertilizer had an average price of $557/ton.

Four fertilizers were slightly less expensive compared to last month. DAP had an average price of $789/ton, MAP $831/ton, potash $511/ton and anhydrous $792/ton.

Three fertilizers were slightly higher in price looking back a month. 10-34-0 had an average price of $642/ton, UAN28 $364/ton and UAN32 $418/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.61/lb.N, anhydrous $0.48/lb.N, UAN28 $0.65/lb.N and UAN32 $0.65/lb.N.

Fertilizer manufacturer Mosaic said lower fertilizer prices led to a 26% drop in quarterly sales for the company to $2.7 billion, according to Dow Jones. The fertilizer company said farmers globally remain profitable, despite rising supplies of corn and soybeans and falling grain prices around the world.

The company said they expect more fertilizer orders from growers in Southeast Asia, India and Brazil.

“Certain parts of the world have gone through two years of under-application of fertilizers, and growers are seeking to replenish soil nutrients,” the company said.

Most fertilizers are lower compared to one year ago, but one fertilizer is slightly higher. MAP is 1% higher looking back a year.

The remaining fertilizers are lower. DAP is 5% less expensive, both 10-34-0 and anhydrous are now 13% lower, UAN28 is 14% less expensive, urea is 16% lower and both potash and UAN32 are now 19% less expensive 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 U.S. Commerce Department announced plans recently to raise tariffs on phosphorus fertilizer imported from Morocco from 2.12% to 14.21%, according to DTN. You can read about it here: https://www.dtnpf.com/agriculture/web/ag/crops/article/2024/05/08/fertilizer-prices-see-minor-moves.

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

Follow him on social platform X @RussQuinnDTN.