Retail Fertilizer Price Declines Pick Up Pace as Nitrogen Prices Keep Falling

MT. JULIET, Tenn. (DTN) -- The average retail price of all eight major fertilizers tracked by DTN declined for the third week in a row, with half of the fertilizers posting significant moves lower.

DTN surveyed sellers during the fourth week of July and considers price changes of 5% or more from the previous month to be significant.

Anhydrous retains its leadership in the decline of retail prices. Its average price is 8% less than last month at $691/ton. For perspective, anhydrous was 52% more expensive last year, at $1431/ton.

The average price of urea and UAN32 each fell by 6% from last month to $581/ton and $442/ton, respectively.

MAP prices dropped by 5% to $1041/ton.

The average price of the remaining four fertilizers also declined from last month. DAP cost $795/ton; potash, $594/ton; 10-34-0, $715/ton; UAN28, $383/ton.

On a price pound of nitrogen basis, the average urea price was at $0.63/lb.N, anhydrous $0.42/lb.N, UAN28 $0.68/lb.N and UAN32 $0.69/lb.N.

All fertilizers are now lower by double digits compared to one year ago.

-- 10-34-0, down 20%

-- DAP, down 21%

-- MAP, down 24%

-- Urea, down 30%

-- Potash, down 33%

-- UAN28, down 36%

-- UAN32, down 37%

-- Anhydrous, down 52%

Fertilizer expenses ballooned in 2022, according to a recent USDA report on production costs. Farmers spent almost 20% more on fertilizer than the year before, shelling out $36.8 billion. You can read more on 2022's production costs here: https://www.dtnpf.com/…

While prices may have returned to earth this year, with many returning to near their 5-year average price, it continues to be a large line item on farmers' budgets. Alexis Maxwell, a fertilizer analyst at Bloomberg Intelligence/Green Markets, will join the DTN Ag Summit Series on August 15 to discuss what's influencing prices and whether it's a good year to book your needs early.

She specializes in financial and economic analysis of fertilizer markets and producers. Prior to joining Bloomberg, Maxwell was a market analyst at CF Industries and SABIC. While she frequently presents to investment groups and others in the financial world, she says she's looking forward to presenting to farmers.

Sign up to hear Alexis's presentation, along with the rest of the Ag Summit Series: Digital Yield Tour, here: https://www.dtn.com/…

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/….

Jul 25-20 2022

1005

1041

887

836

Aug 22-26 2022

972

1026

880

804

Sep 19-23 2022

950

1005

875

811

Oct 17-21 2022

930

986

863

826

Nov 14-18 2022

930

978

848

812

Dec 12-Dec 16 2022

902

939

807

779

Jan 9-Jan 13 2023

868

875

742

732

Feb 6-Feb 10 2023

840

857

694

693

Mar 6-Mar 10 2023

825

823

657

643

Apr 3-7 2023

818

809

642

625

May 1-5 2023

826

805

623

599

May 29-Jun 2 2023

824

832

620

622

June 26-30 2023

825

829

620

616

July 24-28 2023

795

791

594

581

Jul 25-20 2022

894

1431

596

693

Aug 22-26 2022

869

1331

575

676

Sep 19-23 2022

860

1376

578

670

Oct 17-21 2022

759

1419

576

678

Nov 14-18 2022

753

1415

584

681

Dec 12-Dec 16 2022

750

1415

579

682

Jan 9-Jan 13 2023

754

1245

563

650

Feb 6-Feb 10 2023

755

1220

499

579

Mar 6-Mar 10 2023

740

1059

436

522

Apr 3-7 2023

740

1002

423

507

May 1-5 2023

739

926

424

507

May 29-Jun 2 2023

739

791

413

478

June 26-30 2023

731

753

396

468

July 24-28 2023

715

691

383

442

Katie Dehlinger can be reached at [email protected]

Follow her on Twitter at @KatieD_DTN