DTN Retail Fer lizer Trends MAP - Fer lizer Price Index Ties All-Time Record

DTN Retail Fertilizer Trends MAP Fertilizer Price Index Ties All-Time Record

By Russ Quinn, Staff Reporter The Progressive Farmer DTN Retail fer lizer prices con nued to be slightly higher again the third week of April 2022, according to sellers surveyed by DTN. The prices of two fer lizers were higher by a signifi cant amount compared to last month, which DTN designates as 5% or more.

The average retail price of MAP was up 6% compared to last month. The phosphorus fer lizer had an average price of $1,079/ton. This es the all- me-high price for MAP in our DTN data set. The previous me this level was achieved was the fi rst week of November 2008. The other fer lizer up considerably in price was UAN32, which was 5% more expensive compared to last month. The liquid nitrogen’s average price was $730/ton (all- me high price). The remaining six fer lizers were slightly higher looking back to last month. DAP had an average price of $1,050/ ton (all- me high), potash $879/ton, urea $1,012/ton (all- me high), 10-34-0 $906/ton, anhydrous $1,534/ton (all- me high) and UAN28 $631/ton (all- me high).

MAP prices touched their previous high this week, coming in at $1,079 per ton. The phosphate fer lizer is 54% more expensive than last year. (DTN chart)

On a price per pound of nitrogen basis, the average urea price was at $1.10/lb.N, anhydrous $0.94/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N. Farm machinery manufacturer John Deere could see setbacks in the year ahead, as rising fer lizer prices and other input costs could aff ect demand for equipment from farmers, according to Dow Jones. Analysts at Bank of America said in a research note that Deere is concerned about farmers’ costs in the future.

Overall, farmers appear to be set for an “excellent year” of profi tability in 2023, but sen ment on big investments appears to be rolling over. “A higher-than-expected number of dealers are complaining that soaring fer lizer costs could come out of new equipment budgets,” according to Bank of America, Dow Jones reported. Most fer lizers con nue to be considerably higher in price than one year earlier. 10-34-0 is 48% more expensive, MAP is 54% higher, DAP is 68% more expensive, UAN28 is 81% higher, UAN32 is 87% more expensive, urea is 99% is higher, potash is 103% higher and anhydrous is 117% more expensive compared to last year. DTN gathers fer lizer price bids from agriculture retailers each week to compile the DTN Fer lizer Index. DTN fi rst began repor ng data in November 2008.