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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.”

“DTN Retail Fertilizer Trends,” by Russ Quinn. DTN- Progressive Farmer (April 19, 2023).

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.”

Illinois Production Cost Report. USDA- Agricultural Marketing Service (April 20, 2023).

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.”

Iowa Production Cost Summary. USDA- Agricultural Marketing Service (April 18, 2023).

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.”

Keith Good Photo

Keith Good is the Farm Policy News editor for the farmdoc project. He has previously worked for the USDA’s National Agricultural Statistics Service, and compiled the daily News Summary from 2003-2015. He is a graduate of Purdue University (M.S.- Agricultural Economics), and Southern Illinois University School of Law.

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