Urea, UAN28 Lead Retail Fertilizer Prices Higher

OMAHA (DTN) — Retail fertilizer prices remain mostly higher compared to last month, according to retailers tracked by DTN for the third week of March 2024. 

Two fertilizers were up a considerable amount. DTN designates a significant move as anything 5% or more.

Urea was 8% more expensive compared to last month and had an average price of $574/ton. UAN28 was 6% higher in price looking back a month and had an average price of $358/ton.

Six fertilizers were all slightly higher or lower in price. Potash was slightly lower and had an average price of $506/ton.

The remaining five were slightly higher compared to last month. DAP had an average price of $778/ton, MAP $823/ton, 10-34-0 $628/ton, anhydrous $793/ton and UAN32 $402/ton.

UAN32 was back above the $400/ton level for the first time since the third week of December 2023. That week the average price was $402/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.62/lb.N, anhydrous $0.48/lb.N, UAN28 $0.64/lb.N and UAN32 $0.63/lb.N.

Recent legislation in the U.S. Senate to include phosphate and potash on the final list of critical minerals of the Department of the Interior was positive for ensuring a strong domestic fertilizer supply for American farmers, according to a news release from The Fertilizer Institute (TFI).

“It is vital that we, as a country, take proactive steps to secure our own agricultural future by recognizing the role these minerals play in putting food on our tables,” TFI President and CEO Corey Rosenbusch said. “Without these two minerals, modern agricultural systems would crumble and the ability to feed our growing population would be nearly impossible.”

The U.S. has both phosphate and potash production but expanding mines and operating new ones is a costly and time-consuming process measured in years and in the tens of millions of dollars for permitting alone. Being listed as critical minerals would not exclude these projects from environmental reviews but would assign a single permitting agency to be responsible and streamline the process, according to TFI.

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

The remaining fertilizers are lower. DAP is 5% less expensive, urea is 8% lower, 10-34-0 15% less expensive, UAN28 is 17% lower, both potash and UAN32 are 22% less expensive and anhydrous is 23% lower 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.

A fertilizer spill in southwestern Iowa has led to a fish kill in a nearby river, according to a Iowa Department of Natural Resources press release. You can read about it here: https://www.dtnpf.com/agriculture/web/ag/crops/article/2024/03/20/urea-leads-prices-eight-fertilizers.

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

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