Fertilizer Prices Fall Again

DTN writer Russ Quinn reported last week that, “Average retail fertilizer prices were down again the second week of April 2023, continuing a trend that has been in place since the beginning of the year, according to sellers surveyed by DTN.

“All eight of the major fertilizer prices are lower compared to last month with just one fertilizer considerably less expensive. DTN designates a significant move as anything 5% or more.”

The DTN article indicated that, “Leading the way lower once again was anhydrous. The nitrogen fertilizer was 5% lower compared to last month and had an average price of $1,003 per ton.

“The remaining seven fertilizers were all just slightly lower compared to last month. DAP had an average price of $821 per ton, MAP $809/ton, potash $642/ton, urea $625/ton, 10-34-0 $740/ton, UAN28 $427/ton and UAN32 $507/ton.”

Quinn added that, “All fertilizers are now double digits lower compared to one year ago. 10-34-0 is 18% less expensive, DAP is 22% lower, MAP is 24% less expensive, potash is 27% lower, UAN32 is 31% less expensive, UAN28 is 32% lower, anhydrous is 35% less expensive and urea is 39% lower compared to a year prior.”

Meanwhile, in its weekly Grain Transportation Report, the USDA’s Agricultural Marketing Service pointed out that, “For the week ending April 17, the U.S. average diesel fuel price increased 1.8 cents from the previous week to $4.116 per gallon, 98.5 cents below the same week last year.”