All retail fertilizer prices continued to decline in the third full week of March 2023, according to sellers surveyed by DTN. Prices have been on a steady march lower since the beginning of the year.
All eight of the major fertilizer prices were once again lower compared to last month. Four of the eight fertilizers had a sizable price decline, which DTN designates as anything 5% or more.
Leading the way lower was UAN28. The liquid nitrogen fertilizer was 9% lower compared to last month with an average retail price of $429 per ton. Anhydrous was 8% less expensive than a month ago with an average price of $1,036/ton.
UAN32 was 7% lower compared to a month earlier and had average price of $514/ton. Urea was 6% less expensive compared to the previous month with an average price of $627/ton.
The remaining four fertilizers were all just slightly lower compared to the prior month. DAP had an average price of $821/ton, MAP $812/ton, potash $645/ton and 10-34-0 $740/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.68/lb.N, anhydrous $0.63/lb.N, UAN28 $0.77/lb.N and UAN32 $0.80/lb.N.
All fertilizers are now lower by double digits compared to one year ago. 10-34-0 is 16% less expensive, DAP is 19% lower, MAP is 20% less expensive, potash is 24% lower, UAN32 is 26% less expensive, both anhydrous and UAN28 are 32% lower and urea is 36% 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.
Categories: Iowa, Crops