DTN Retail Fertilizer Trends
Wednesday, November 29, 2023 5:00AM CST
OMAHA (DTN) -- Retail fertilizer prices were a mixed bag again during the third week of November 2023, according to sellers surveyed by DTN.
Average prices for five of the eight major fertilizers were lower compared to last month, while prices for the remaining three fertilizers were slightly higher. DTN designates a significant move as anything 5% or more.
One fertilizer had a notable price move compared to last month. UAN28 was down 6% looking back to last month. The nitrogen fertilizer had an average price of $338 per ton.
The remaining four fertilizers were down just slightly. DAP had an average price of $713 per ton, urea $570/ton, 10-34-0 $583/ton and UAN32 $402/ton.
Three fertilizers were just slightly higher in price compared to last month. MAP had an average price of $811/ton, potash $512/ton and anhydrous $833/ton.
On a price per pound of nitrogen basis, the average urea price was $0.62/lb.N, anhydrous $0.51/lb.N, UAN28 $0.60/lb.N and UAN32 $0.63/lb.N.
A new form of ammonium phosphate fertilizer has been field-tested by University of Illinois researchers. The fertilizer, struvite (5-28-0), recycles nutrients from wastewater streams, reduces the leaching of phosphorus and nitrogen in soils and maintains or improves soybean yields compared to conventional phosphorus fertilizers, according to a University of Illinois news release (https://aces.illinois.edu/…).
Andrew Margenot, associate professor and faculty Extension specialist in the Department of Crop Sciences, said that while there have been some lab and greenhouse projects showing the potential of struvite, this would be the first field-scale assessment of nutrient loss and yield benefits.
"We have found that struvite can be a full substitute for monoammonium phosphate (MAP) or diammonium phosphate (DAP) for soybean yield-wise, and it reduces nonpoint source nutrient losses to conventional fertilizer options," Margenot said.
Applying MAP or DAP in the fall as a source of phosphorus for crops is a common practice for corn and soybean producers in much of the Corn Belt.
Because the phosphorus in MAP and DAP is highly water soluble, much of the nutrient is lost during the ensuing winter and early spring months. Not only can this contribute to downstream nutrient pollution, but it also means there may be less phosphorus available in the soil by the time crops are planted in spring.
All fertilizers are now lower by double digits compared to one year ago. MAP is 17% lower, both DAP and 10-34-0 are 23% less expensive, urea is 29% lower, potash is 39% lower, both anhydrous and UAN32 are 41% 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 Fertilizer Institute (TFI) recently reiterated its opposition to the EPA's proposed rule to tighten national ambient air quality standards, according to a TFI press release. You can read about it here: https://www.dtnpf.com/….
Russ Quinn can be reached at Russ.Quinn@dtn.com
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