DTN Retail Fertilizer Trends

OMAHA (DTN) -- Most retail fertilizer prices remain fairly steady as they have for months, according to retailers tracked by DTN for the second week of April 2015. The one exception would be 10-34-0, which has seen prices rise significantly over the last several months because of issues with the supply of an acid used to make the fertilizer.

Starter fertilizer is 6% more expensive compared to a month earlier and has an average price of $649 per ton.

Five of the remaining seven major fertilizers were higher in price compared to a month earlier, but these moves were fairly slight. MAP had an average price of $598/ton, potash $491/ton, anhydrous $711/ton, UAN28 $332/ton and UAN32 $370/ton.

Two fertilizers were lower compared to the previous month, but again neither was down by any consequence. DAP had an average price of $570/ton and urea $453/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.49/lb.N, anhydrous $0.43/lb.N, UAN28 $0.59/lb.N and UAN32 $0.58/lb.N.

Farmers are busy putting many months of planning into action. Field work across the Corn Belt has begun with fertilizer application, tillage and limited corn planting so far. Karl Jacobson, who farms near Concordia, Kansas, said he pre-paid for about half of his fertilizer needs back in December and regrets not being more proactive on his starter fertilizer.

"I probably should have bought all my 10-34-0 needs back then," Jacobson told DTN. "The last I bought the other day the cost was $110 per ton more than what I paid in December"

Being in north-central Kansas, Jacobson farms both irrigated and dryland crops. He applies all of his fertilizer in the spring.

For his corn acres, he will apply urea at 120 pounds per acre on the first application pass and then come back and side-dress anhydrous in June to split apply his nitrogen. With his flood-irrigated acres, he will utilize some UAN32. For his milo acres, he will usually apply urea in one trip.

With farmers trying to limit input costs during this growing season in an effort to remain profitable, one area which has been much discussed is limiting fertilizer applications. Jacobson said he will not be cutting back on irrigated corn acres, but with his dryland corn he might be willing to limit phosphate fertilizer some.

"It is kind of dry here now, so it just depends on the moisture level with dryland," he said. "I know I will be planting less dryland corn and more milo this year, only about half as much (dryland corn) as last year."

One of the eight major fertilizers is now double digits higher in price compared to April 2014, all while commodity prices are significantly lower from a year ago. 10-34-0 is 24% higher compared to last year.

Two other fertilizers are slightly more expensive compared to a year earlier. Anhydrous is 4% more expensive while potash is 3% higher compared to a year earlier.

The remaining five nutrients are now lower compared to retail prices from a year ago. Both MAP and DAP are 3% less expensive, UAN28 is down 7%, UAN32 is now 8% less expensive and urea is 18% less expensive from a year ago.

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
Apr 14-18 2014	586	617	475	552
May 12-16 2014	594	630	479	554
June 9-13 2014	594	630	482	541
July 7-11 2014	590	621	483	531
Aug 4-8 2014	589	609	474	518
Sept 1-5 2014	581	599	475	517
Sept 29-Oct 3 2014	579	599	478	514
Oct 27-31 2014	579	598	478	503
Nov 24-28 2014	576	595	480	492
Dec 22-26 2014	566	593	485	462
Jan 19-23 2015	568	596	487	469
Feb 16-20 2015	568	597	495	472
Mar 16-20 2015	570	597	490	470
Apr 13-17 2015	570	598	491	453
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Apr 14-18 2014	525	685	355	401
May 12-16 2014	552	699	355	406
June 9-13 2014	562	703	357	404
July 7-11 2014	561	686	348	399
Aug 4-8 2014	556	686	337	378
Sept 1-5 2014	555	683	330	377
Sept 29-Oct 3 2014	556	695	328	374
Oct 27-31 2014	558	701	327	373
Nov 24-28 2014	564	712	323	368
Dec 22-26 2014	573	706	320	362
Jan 19-23 2015	585	707	326	367
Feb 16-20 2015	593	706	330	370
Mar 16-20 2015	614	705	332	368
Apr 13-17 2015	649	711	332	370

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

(MZT/AG)

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