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By Russ Quinn
October
11, 2023

Anhydrous Leads Half of Fertilizer Prices Higher

 

OMAHA (DTN) -- Retail fertilizer prices continued to be evenly split the first week of October 2023 with half lower and half higher compared to last month, according to sellers surveyed by DTN.

Prices for four of the eight major fertilizers were higher than last month while the other four were lower. DTN designates a significant move as anything 5% or more.

Anhydrous was 14% higher compared to last month with an average price of $790 per ton. Once again, both MAP and UAN32 were 6% more expensive compared to last month. MAP had an average price of $791/ton, while UAN32 was $414/ton.

One fertilizer was just slightly higher in price compared to last month. Urea had an average price of $573/ton.

Prices for the other four fertilizers were just slightly lower compared to the prior month. DAP had an average price of $705/ton, potash $508/ton, 10-34-0 $609/ton and UAN28 $354/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.62/lb.N, anhydrous $0.48/lb.N, UAN28 $0.63/lb.N and UAN32 $0.65/lb.N.

A new fertilizer production facility is being constructed in Grand Island, Nebraska, according to News Channel Nebraska. GMCO Growth Technologies broke ground on the plant in June, and it is expected to be completed by June 2024.

Right now, storage tanks and production facility are being constructed.

The facility will produce Nitro-Mag, which lead agronomist Marcus Dennis said is the first real innovation in fertilizer in more than 25 years. The product provides plants with a form of nitrogen they can assimilate directly, according to Dennis.

"It has a lot of benefits, it's more efficient in the plant," Dennis said. "It has been shown to add yield, and it adds bigger roots."

Initially, the plant will employ four people, with plans to double the staff in three years. For now, the product is being produced at a temporary location in Hastings, Nebraska.

All fertilizers are now lower by double digits compared to one year ago. MAP is 21% lower, DAP is 25% less expensive, 10-34-0 is 25% lower, urea is 31% less expensive, both UAN28 and UAN32 are 37% lower, potash is 42% lower and anhydrous is 43% less expensive compared to a year prior.

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/….

Much price variability can be seen in nitrogen prices over the last 15 years, according to an article from the University of Illinois Extension Farmdoc Daily. You can read about it here: https://www.dtnpf.com/….

DRY
Date Range DAP MAP POTASH UREA
Oct 3-7 2022 934 997 869 826
Oct 31-Nov 4 2022 930 981 857 826
Nov 28-Dec 2 2022 926 960 831 795
Dec 26-Dec 30 2022 885 891 765 751
Jan 23-Jan 27 2023 855 865 714 708
Feb 20-Feb 24 2023 836 834 673 666
Mar 20-Mar 24 2023 821 812 645 627
Apr 17-21 2023 826 812 643 626
May 15-19 2023 829 831 627 619
June 12-16 2023 823 832 621 624
July 10-14 2023 811 823 614 609
Aug 7-Aug 11 2023 758 764 566 576
Sep 4-8 2023 738 745 518 563
Oct 2-6 2023 705 791 508 573
         
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Oct 3-7 2022 813 1390 565 652
Oct 31-Nov 4 2022 759 1426 583 680
Nov 28-Dec 2 2022 753 1416 583 681
Dec 26-Dec 30 2022 751 1325 573 679
Jan 23-Jan 27 2023 754 1237 523 630
Feb 20-Feb 24 2023 741 1124 470 554
Mar 20-Mar 24 2023 740 1036 429 514
Apr 17-21 2023 740 995 423 507
May 15-19 2023 739 895 421 514
June 12-16 2023 737 781 406 476
July 10-14 2023 730 734 393 465
Aug 7-Aug 11 2023 714 634 369 400
Sep 4-8 2023 611 693 356 390
Oct 2-6 2023 609 790 354 414

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

Follow him on X, formerly Twitter, @RussQuinnDTN

 

 

Green Play Ammonia™, Yielder® NFuel Energy.
Spokane, Washington. 99212
509 995 1879 Cell, Pacific Time Zone.
General office: 509-254 6854
4501 East Trent Ave.
Spokane, WA 99212