Sunday, December 10, 2023  
- DTN Headline News
DTN Retail Fertilizer Trends
By Russ Quinn
Wednesday, December 6, 2023 6:11AM CST

OMAHA (DTN) -- Average retail fertilizer prices were evenly mixed for the fourth week of November 2023, according to sellers surveyed by DTN.

Prices for four of the eight major fertilizers were lower compared to last month, while prices for the remaining four fertilizers were slightly higher. DTN designates a significant move as anything 5% or more.

One fertilizer had a noteworthy price move compared to last month. UAN28 was down 5% from last month. The nitrogen fertilizer had an average price of $341 per ton.

The remaining three fertilizers were down just slightly. Urea had an average price of $552 per ton, 10-34-0 $595/ton and UAN32 $409/ton.

Four fertilizers were just slightly higher in price compared to last month. DAP had an average price of $715/ton, MAP $820/ton, potash $518/ton and anhydrous $847/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.60/lb.N, anhydrous $0.52/lb.N, UAN28 $0.61/lb.N and UAN32 $0.64/lb.N.

Agricultural producers' sentiment increased for the second consecutive month, according to the Purdue University/CME Group Ag Economy Index. The index rose 5 points to a reading of 115, a 12% increase compared to last year (https://ag.purdue.edu/…).

The Index of Current Conditions rose by 12 points to 113, while the Index of Future Expectation increased by 2 points to 116. The Farm Financial Performance Index also climbed in November to a reading of 95, which is up 3 points from October.

Top concerns for the upcoming year include higher input costs (32%), rising interest rates (26%) and lower crop and/or livestock prices (20%).

"Notably, there has been a shift in concern throughout the year, with fewer producers expressing worry over higher input costs compared to the beginning of the year," the report stated. "Instead, more producers are now concerned about rising interest rates and lower crop and livestock prices."

Input costs, including the price of fertilizers, have fallen throughout the year.

All fertilizers are now lower by double digits compared to one year ago. MAP is 15% lower, 10-34-0 is 21% less expensive, DAP is 23% lower, urea is 31% lower, potash is 38% lower, both anhydrous and UAN32 are 40% less expensive and UAN28 is 42% 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/….

The outlook for nitrogen fertilizer appears to be positive as we move into 2024. You can read more about that in the first story in DTN's annual Global Fertilizer Outlook series, "Global Nitrogen Fertilizer Supply, Demand Outlook Generally Favorable," here: https://www.dtnpf.com/….

DRY
Date Range DAP MAP POTASH UREA

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

Oct 30-Nov 3 2023

713

801

508

573

Nov 27-Dec 1 2023

715

820

518

552

LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32

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

Oct 30-Nov 3 2023

611

826

358

415

Nov 27-Dec 1 2023

595

847

341

409

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

Follow him on X, formerly known as Twitter, @RussQuinnDTN


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