Urea Leads Prices for All Eight Fertilizers Higher

OMAHA (DTN) — For the first time in several months, average retail prices for all eight major fertilizers were higher than they were a month ago in the second week of March 2024, according to sellers surveyed by DTN.

Just one fertilizer saw a significant price move, which DTN designates as anything 5% or more. Urea was 7% more expensive than last month. The nitrogen fertilizer had an average price of $566 per ton.

The remaining seven fertilizers were all slightly higher in price. DAP had an average price of $771 per ton, MAP $817/ton, potash $505/ton, 10-34-0 $622/ton, anhydrous $789/ton, UAN28 $355/ton and UAN32 $397/ton.

On a price per pound of nitrogen basis, the average urea price was $0.62/lb.N, anhydrous $0.48/lb.N, UAN28 $0.63/lb.N and UAN32 $0.62/lb.N.

A fertilizer spill in southwestern Iowa led to a fish kill in a nearby river, according to an Iowa Department of Natural Resources news release. The spill happened early March 11 at the New Cooperative facility near Red Oak in Montgomery County.

Approximately 1,500 tons of liquid nitrogen fertilizer (UAN32%) was discharged into a drainage ditch and then into the East Nishnabotna River. The release was due to a valve left open on an aboveground storage tank overnight.

Due to low water levels in the river, the concentration of fertilizer is higher than during normal stream flows, causing some concern for all animals due to high nitrate and urea levels. Dead fish were observed in the river.

Iowa State University College of Veterinary Medicine toxicologist Scott Radke recommends keeping all animals away from the river until the plume of contaminant moves out of the area. The investigation is ongoing, according to the Iowa Department of Natural Resources.   

All fertilizers except two are now lower by double digits compared to one year ago. MAP is 1% lower, DAP is 7% less expensive, urea is 11% lower, 10-34-0 16% less expensive, UAN28 is 17% lower, potash is 23% less expensive, UAN32 are 24% lower and anhydrous is 26% 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.

An early spring means farmers might be considering changes to their fertilizer plans, according to the University of Minnesota Extension. You can read about it here: https://www.dtnpf.com/agriculture/web/ag/crops/article/2024/03/13/urea-leads-fertilizer-prices-higher.

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

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