Retail fertilizer prices continued to fall at a substantial pace in the first full week of August 2023, according to sellers surveyed by DTN. As has been the case in recent weeks, prices for all eight major fertilizers were lower compared to a month ago.
For the second week in a row, seven of the eight major fertilizers had a large price decline from last month. DTN designates a significant move as anything 5% or more.
Anhydrous was lower again, with the nitrogen fertilizer 14% lower compared to last month and with an average price of $634 per ton.
Also 14% less expensive looking back to last month was UAN32. This nitrogen fertilizer had an average price of $400/ton.
Potash was 8% lower compared to last month with an average price of $566/ton. Both DAP and MAP were 7% less expensive compared to the prior month. DAP had an average price of $758/ton while MAP was at $764/ton.
UAN28 was 6% less expensive with an average price of $369/ton. Urea was 5% lower with an average price of $576/ton.
One fertilizer was just slightly lower compared to the prior month. 10-34-0 was down just a bit and had an average price of $714/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.63/lb.N, anhydrous $0.39/lb.N, UAN28 $0.66/lb.N and UAN32 $0.63/lb.N.
With fertilizer prices dropping steadily since the spring of 2022, I thought it would be interesting to look back at where retail fertilizer prices were one year ago.
As you can imagine, prices are significantly lower now compared to then.
The first week of August 2022 saw anhydrous with an average price of $1,387/ton. This week the average anhydrous price was $634/ton, a difference of a whopping $753/ton. Anhydrous prices have dropped more ($753/ton) than the current anhydrous price ($634/ton).
Source: iowacorn.org
Photo Credit: gettyimages-darcymaulsby
Categories: Iowa, Crops