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DTN Retail Fertilizer Trends
Wednesday, May 27, 2015 11:57AM CDT

By Russ Quinn
DTN Staff Reporter

OMAHA (DTN) -- According to retail fertilizer prices tracked by DTN for the third week of May 2015, prices appear steady. No fertilizers are significantly lower or higher compared to a month earlier, as has been the case in recent weeks.

Five of the eight major fertilizers were higher in price compared to a month prior but these moves were slight. Potash averaged $492 per ton, urea $459/ton, 10-34-0 $650/ton, UAN28 $332/ton and UAN32 $372/ton.

Three fertilizers were lower compared to the previous month, but again the move down was fairly insignificant. DAP averaged $570/ton, MAP $597/ton and anhydrous $710/ton.

On a price per pound of nitrogen basis, the average urea averaged $0.50/lb.N, anhydrous $0.43/lb.N, UAN28 $0.59/lb.N and UAN32 $0.58/lb.N.

As farmers are attempting to finish up spring planting, retail fertilizer prices are steady and prices look to be set in this range at least through mid-summer. Bob Spratt, manager of LeRoy Fertilizer Services located in LeRoy, Illinois, said it appears retail fertilizer prices could be sitting fairly still this growing season.

"Unless there are some local shortages here and there, which could cause prices to climb, I think we will see stable fertilizer prices throughout this growing season," Spratt told DTN.

Farmers in Spratt's home area of central Illinois are nearly finished planting soybeans, and soon their attention will move to side-dressing nitrogen fertilizer operations, with either anhydrous or UAN solutions. Spratt said that, 10 years ago, he knew no acres which saw a second trip of nitrogen fertilizer. This year he estimates his customers will sidedress 20,000 acres. This makes up about 70% of the total acres his business covers.

"The split application of applying fertilizer has completely changed how we apply nitrogen," he said. "The yield benefits are there, and so farmers have been willing to change how they apply nitrogen fertilizer."

Only one of the eight major fertilizers is double-digits higher in price compared to May 2014, all while commodity prices are significantly lower from a year ago. 10-34-0 is 17% higher compared to last year.

Two other fertilizers are slightly more expensive compared to a year earlier. Potash is 3% more expensive while anhydrous 2% more expensive compared to a year earlier.

The remaining five nutrients are now lower compared to retail prices from a year ago. DAP is 4% less expensive, MAP is 5% lower, UAN28 is down 7%, UAN32 is 9% less expensive and urea is 17% less expensive from a year earlier.

DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.

DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.

Retail fertilizer charts dating back to November 2008 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.

DTN's average of retail fertilizer prices from a month earlier ($ per ton):

DRY
Date Range DAP MAP POTASH UREA
May 19-23 2014 595 631 480 553
June 16-20 2014 596 629 483 535
July 14-18 2014 590 618 483 531
Aug 11-15 2014 589 609 474 517
Sept 8-12 2014 581 589 475 516
Oct 6-10 2014 581 600 478 509
Nov 3-7 2014 579 598 480 500
Dec 1-5 2014 573 592 481 485
Dec 29-Jan 2 2015 565 593 486 462
Jan 26-30 2015 568 597 487 472
Feb 23-27 2015 568 597 488 472
Mar 23-27 2015 570 598 490 467
Apr 20-24 2015 570 598 491 453
May 18-22 2015 570 597 492 459
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
May 19-23 2014 556 698 355 407
June 16-20 2014 562 699 355 403
July 14-18 2014 557 684 348 400
Aug 11-15 2014 555 687 337 379
Sept 8-12 2014 554 681 330 377
Oct 6-10 2014 556 697 327 373
Nov 3-7 2014 559 705 324 369
Dec 1-5 2014 568 714 323 368
Dec 29-Jan 2 2015 576 707 322 353
Jan 26-30 2015 585 707 326 367
Feb 23-27 2015 598 706 330 370
Mar 23-27 2015 639 706 333 371
Apr 20-24 2015 650 711 329 371
May 18-22 2015 650 710 332 372

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

(MZT/AG)


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