DTN Retail Fertilizer Trends

OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the second week of February 2015 continue to show little price movement in either direction. This trend has been in place for months.

Seven of the eight major fertilizers were higher compared to a month earlier but none of the seven were up any importance. DAP had an average price of $569/ton, MAP $597/ton, potash $488/ton and urea $473/ton. 10-34-0 had an average price of $589/ton, UAN28 $330/ton and UAN32 $370/ton.

One fertilizer was lower compared to a month ago, with anhydrous just slightly lower. The nitrogen fertilizer had an average price of $707/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.51/lb.N, anhydrous $0.43/lb.N, UAN28 $0.59/lb.N and UAN32 $0.58/lb.N.

While many farmers have already locked in their fertilizer needs for the 2015 growing season, others have decided to hold off purchasing fertilizer. Austin Henderson, a farmer from Sharpsville, Ind., said he is waiting a bit longer as he gathers more price information.

"We have been building fertility the last couple of years but we also want to stay profitable in 2015-16," Henderson told DTN. "It is worth waiting it out to see what prices bring."

Henderson said he will normally lock in some fertilizer prices depending on which way he believes fertilizer prices will be moving. He will spread "a fair amount of acres" on his central Indiana farm in the spring with P and K to limit nutrient run off.

Since he has been building soil nutrient levels in his soils in recent years, he feels that he does have enough banked to still grow a profitable crop in 2015 and not mine his soil. Still, more than likely he will also spread a small maintenance rate of fertilizer in the spring just before the planter rolls across his fields.

"Having profitable yields is most important for us," he said. "It is not just all about high yields."

Two of the eight major fertilizers are now double digits higher in price compared to February 2014, all while commodity prices are significantly lower from a year ago. 10-34-0 is 17% higher while anhydrous is 14% more expensive compared to year earlier.

DAP and MAP are both 8% more expensive and potash is 4% more expensive compared to a year earlier.

Three nutrients are now lower compared to retail prices from a year ago. UAN28 is down 3% while UAN32 is now 4% less expensive and urea is 7% less expensive from a year previous.

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
Feb 10-14 2014	529	554	471	509
Mar 10-14 2014	559	577	474	533
Apr 7-11 2014	585	606	475	548
May 5-9 2014	594	631	477	560
June 2-6 2014	596	631	482	544
June 30-July 4 2014	592	623	483	535
July 28-Aug 1 2014	587	610	476	519
August 25-29 2014	585	602	475	517
Sept 22-26 2014	579	600	473	510
Oct 20-24 2014	582	599	478	507
Nov 17-21 2014	576	595	480	493
Dec 15-19 2014	565	592	483	461
Jan 12-16 2015	566	594	486	465
Feb 9-13 2015	569	597	488	473
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Feb 10-14 2014	505	620	338	384
Mar 10-14 2014	515	627	345	392
Apr 7-11 2014	517	675	352	398
May 5-9 2014	490	698	353	406
June 2-6 2014	562	708	357	404
June 30-July 4 2014	564	694	352	400
July 28-Aug 1 2014	542	671	339	380
August 25-29 2014	555	699	332	371
Sept 22-26 2014	555	694	329	377
Oct 20-24 2014	557	697	327	367
Nov 17-21 2014	560	709	322	366
Dec 15-19 2014	572	705	322	362
Jan 12-16 2015	582	710	325	364
Feb 9-13 2015	589	707	330	370

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

Follow Russ Quinn on Twitter @RussQuinnDTN

(MZT/SK)

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