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DTN Retail Fertilizer Trends
By Russ Quinn
Wednesday, June 12, 2024 6:36AM CDT

OMAHA (DTN) -- Average retail prices for all but one of the eight major fertilizers were lower than last month in the first week of June 2024, according to sellers surveyed by DTN. But for the first time in four weeks, no fertilizer saw a significant price move, which DTN designates as anything 5% or more.

Prices for seven of the eight major fertilizers were down from last month. DAP had an average price of $781 per ton, MAP $827/ton, potash $508/ton, urea $535/ton, anhydrous $757, UAN28 $353/ton and UAN32 $406/ton.

One fertilizer was just slightly higher in price from last month. That was 10-34-0, which had an average price of $642/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.58/lb.N, anhydrous $0.46/lb.N, UAN28 $0.63/lb.N and UAN32 $0.63/lb.N.

With the significant rainfall much of the Corn Belt has received this spring, farmers may be asking themselves if they need to apply supplemental nitrogen fertilizer. In a post from the University of Minnesota Extension Minnesota Crop News titled "Should you apply supplemental nitrogen fertilizer this year?," author Brad Carlson, Extension educator, takes a closer look at the issue. See that post here: https://blog-crop-news.extension.umn.edu/….

Generally, for most farmers, some nitrogen has been lost. However, it's probably not enough to warrant an additional application, according to Carlson. Once applied and incorporated, nitrogen is lost through water-based processes. The two loss processes of concern are leaching and denitrification.

"Despite the recent wet weather, we have not drained enough water to significantly move applied fertilizer out of the rooting zone," Carlson wrote. "It is possible that it has moved down enough that corn may appear yellow until the roots grow to reach it."

Denitrification is probably more of a concern, according to Carlson. This process becomes much more significant as the soil warms and spring turns to summer.

Saturated soil at 60 degrees Fahrenheit will lose about 6% of the nitrogen present when saturated for four days and 12% if saturated for 10 days. Losses due to denitrification increase to 12% when soil reaches 70 degrees F and are saturated for four days and up to 26% for 10 days.

"Farmers will want to monitor the length of time the soil stays saturated in order to estimate how much nitrogen they have lost," Carlson wrote. "It should be noted that most locations likely to experience nitrogen loss are also places where the crop was drowned out, making the situation dubious."

All fertilizers are lower compared to one year ago. MAP is 1% lower, anhydrous is 4% less expensive, DAP is 5% lower, 10-34-0 is 13% lower, both urea and UAN28 are now 14% less expensive, UAN32 is 15% lower and potash is 18% lower 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/….

Corey Rosenbusch, president and CEO of The Fertilizer Institute (TFI), testified before the House Subcommittee on Energy and Mineral Resources last week in support of phosphate and potash, according to a TFI news release. You can read about it here: https://www.dtnpf.com/….

DRY
Date Range DAP MAP POTASH UREA
May 29-Jun 2 2023 824 832 620 622
June 26-30 2023 825 829 620 616
July 24-28 2023 795 791 594 581
Aug 21-25 2023 735 764 557 575
Sep 18-22 2023 702 757 501 566
Oct 16-20 2023 709 791 504 574
Nov 13-27 2023 717 811 511 574
Dec 11-15 2023 713 819 517 540
Jan 8-12 2024 726 807 510 526
Feb 5-9 2024 736 809 508 528
Mar 4-8 2024 760 816 505 564
Apr 1-5 2024 780 828 514 577
Apr 29-May 3 2024 781 830 513 585
May 27-31 2024 781 828 508 537
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
May 29-Jun 2 2023 739 791 413 478
June 26-30 2023 731 753 396 468
July 24-28 2023 715 691 383 442
Aug 21-25 2023 698 622 355 399
Sep 18-22 2023 610 763 352 405
Oct 16-20 2023 612 809 356 418
Nov 13-27 2023 613 843 361 415
Dec 11-15 2023 595 851 339 409
Jan 8-12 2024 600 776 336 391
Feb 5-9 2024 610 773 335 390
Mar 4-8 2024 622 788 344 396
Apr 1-5 2024 633 794 362 405
Apr 29-May 3 2024 641 794 364 418
May 27-31 2024 642 758 356 406

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

Follow him on social platform X @RussQuinnDTN.


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