Generally higher than last month – AgFax

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©Debra L Ferguson

Retail fertilizer prices continued to be generally higher in the first full week of February 2022, according to vendors surveyed by DTN. All major fertilizers except one were higher than last month.

Seven of the top eight fertilizers were slightly higher, although none increased significantly. DTN denotes significant movement as anything of 5% or more.

DAP had an average price of $876/ton from last month, MAP $935/ton, Potash $815/ton, 10-34-0 $827/ton, Anhydrous $1,487/ton (all-time high), UAN28 $600/ton and UAN32 $699/ton (all time high).

In recent weeks, UAN28 was at or above $600/tonne. This is the first time UAN28 has exceeded $600/tonne in our dataset.

A fertilizer was cheaper than the previous month. Urea was slightly lower with an average price of $905/tonne.

On a price per pound nitrogen basis, the average price of urea was $0.98/lb.N, anhydrous $0.91/lb.N, UAN28 $1.07/lb.N and UAN32 $1.09/lb.N.

Perspective is an interesting thing and sometimes we gain a new perspective by walking away from something for a while. As you may or may not have noticed, I haven’t written this column for the past few weeks.

Now that I’m back to writing the column, I noticed immediately that the percentage increases in fertilizer prices for the top eight fertilizers are much lower than three weeks ago. I wondered why that was the case.

Retail fertilizer prices aren’t lower, so how could the percentages change so much in just a few weeks?

During the last week of January, fertilizer prices increased by 69% to 202% compared to the previous week. This week, the range was “only” 46% to 184%.

I went back and watched to see what happened between the third week of January 2021 and the first week of February 2021. As you may recall, fertilizer prices were steadily rising, but there has been a sharp increase in prices over the past two weeks. January and the first week of February.

The third week of January 2021, DAP was $493/ton, MAP $563/ton, Potash $379, Urea $387/ton, 10-34-0 $481/ton, Anhydrous $482/tonne, UAN28 $215/tonne and UAN32 $251/tonne.

Two weeks later, prices had really taken off higher. DAP was $554/tonne, DAP $601/tonne, potash $389, urea $429/tonne, 10-34-0 $502/tonne, anhydrous $507/tonne, UAN28 $239/ton and UAN32 $272/ton.

Thus, the full year price change percentages are much lower for the first week of February compared to the third week of January 2021 due to the large price increase that occurred last year at the end of January.

Translation: Fertilizer prices have now been high for a full calendar year, so the higher percentages aren’t as high as they used to be.

I thought that was rather interesting. Of course, I’ve been writing about fertilizer prices for 12 years now… what do I know that’s interesting?

The price of most fertilizers continues to be significantly higher than a year ago.

MAP is now 46% more expensive, DAP is 49% more expensive, 10-34-0 is 61% more expensive, urea is 100% more expensive, potash is 105% more expensive, UAN32 is 145% higher, UAN28 is 147% more expensive and anhydrous is 184% higher than last year.

DTN surveys over 300 retailers, gathering approximately 1,700 fertilizer price quotes, to compile the DTN Fertilizer Index each week. In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index here, which includes state averages.

The recent DTN Global Fertilizer Outlook series drew attention to what the global expectation could be in 2022. This series looked at global nutrient supply and demand as well as the direction that fertilizer prices might take in the new year.

Read the nitrogen outlook here.

Read the outlook on phosphorus here.

Read the potash outlook here.

TO DRY
Date range DPA MAP POTASH UREA
February 8-12, 2021 588 642 398 453
March 8-12, 2021 615 690 423 483
April 5-9, 2021 618 699 431 504
May 3-7, 2021 634 705 436 514
May 31-June 4, 2021 652 712 443 524
June 28-July 2, 2021 677 721 476 542
July 26-30, 2021 695 753 549 554
August 23-27, 2021 697 756 569 557
September 20-24, 2021 709 786 625 585
October 18-22, 2021 810 863 716 735
November 15-19, 2021 825 911 769 859
December 13-17, 2021 858 935 796 901
January 10-14, 2022 863 932 807 913
February 7-11, 2022 876 935 815 905
LIQUID
Date range 10-34-0 ANHYDE UAN28 UAN32
February 8-12, 2021 512 524 243 285
March 8-12, 2021 581 625 306 344
April 5-9, 2021 605 692 341 378
May 3-7, 2021 618 712 358 398
May 31-June 4, 2021 619 719 363 412
June 28-July 2, 2021 625 730 366 421
July 26-30, 2021 631 737 365 419
August 23-27, 2021 632 748 370 420
September 20-24, 2021 633 772 383 436
October 18-22, 2021 659 940 451 492
November 15-19, 2021 739 1220 571 651
December 13-17, 2021 790 1420 579 663
January 10-14, 2022 796 1430 584 679
February 7-11, 2022 827 1487 600 699

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

Follow him on Twitter @RussQuinnDTN

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