Retail Fertilizer Prices Remain Slightly Lower

OMAHA (DTN) — Retail fertilizer prices tracked by DTN for the fourth week of August 2024 continue to show lower prices.

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

All eight of the major fertilizers were lower compared to last month but no fertilizer was down a considerable amount. DAP had an average price of $742/ton, MAP $814/ton, potash $487/ton, urea $492/ton, 10-34-0 $639/ton, anhydrous $676/ton, UAN28 $328/ton and UAN32 $364/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.53/lb.N, anhydrous $0.41/lb.N, UAN28 $0.59/lb.N and UAN32 $0.57/lb.N.

U.S. producers are frustrated fertilizer prices aren’t reflecting the multiple year lows in grains as they book their needs for the fall, according to Dow Jones.

According to AgResource, fertilizer prices are higher than year ago levels. Anhydrous was up 15% while MAP was up 7%, according to the latest Illinois Production Costs.

Dealers have been slow to lower fertilizer prices, and the U.S. fertilizer market is showing surprising strength as China curtails exports, according to AgResource.

All fertilizers but three are lower compared to one year ago. DAP is 1% higher and 10-34-0 is 5% more expensive and MAP is 11% higher looking back to last year.

The remaining five fertilizers are lower. Anhydrous is 1% lower, potash is 6% less expensive, UAN32 is 7% lower, UAN28 is 8% less expensive and urea is 14% lower 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/agriculture/web/ag/markets/fuels-fertilizers#!/fertilizers.

The Canadian Industrial Relations Board (CIRB) forced binding arbitration on all parties between the Teamsters Canada Rail Conference (TCRC) members and the Canadian Pacific Kansas City (CPKC) and Canadian Railways (CN). You can read about it here: https://www.dtnpf.com/agriculture/web/ag/crops/article/2024/08/28/retail-fertilizer-prices-continue.

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

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