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By Katie Dehlinger, Farm Business Editor

Summer Slump in Retail Fertilizer Prices Continues

Although retail fertilizer prices continue to slip lower amid low demand, that's typical of summertime and prices remain higher than last year. Global supply problems that have contributed to sharply higher year-over-year prices have led one major producer to announce more production cuts.

MT. JULIET, Tenn. (DTN) -- Retail fertilizer prices continue to drift lower like they have much of the summer, according to retailers tracked by DTN for the fourth week of July 2022. But with anhydrous still costing more than $1,400 per ton, the lower prices are unlikely to offer farmers much peace of mind.

While prices for seven of the eight major fertilizers are lower, none dropped by a significant amount, which DTN considers a price change of 5% or more in a month.

For phosphates, the average price of DAP was $1,005 per ton, while MAP cost $1,041/ton.

Nitrogen fertilizers prices declined by 1% to 3% compared to last month. Urea had an average price of $836/ton; anhydrous, $1,431/ton; UAN28, $596/ton; and UAN32, $693/ton.

The average price of starter 10-34-0 fertilizer was $894/ton.

 

The only fertilizer with a slightly higher price was potash at $887/ton.

On a price per pound of nitrogen basis, the average urea price was $0.91/lb.N, anhydrous $0.87/lb.N, UAN28 $1.06/lb.N and UAN32 $1.08/lb.N.

Global supplies of anhydrous continue to tighten as Europe reduced its reliance on natural gas from Russia. Last week, BASF announced it would reduce production of ammonia amid Moscow's decision to reduce natural gas flows on the Nord Stream pipeline to 20% of capacity.

BASF CEO Martin Brudermuller said skyrocketing natural gas prices pose a unique burden because the company uses it to generate power for many of its plants as well as a feedstock for products, Dow Jones Newswires reports.

"Ammonia is in a difficult situation. Next year's availability of fertilizer might be worse. Fertilizer prices are skyrocketing," Brudermuller said. You can find more of Brudermuller's comments here:

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Most fertilizers continue to be considerably higher in prices than one year earlier.

MAP is 38% more expensive, 10-34-0 is 42% higher, DAP is 45% more expensive, urea is 51% higher, potash is 62% more expensive, UAN28 is 63% higher, UAN32 is 66% more expensive and anhydrous is 94% higher compared to last year.

DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.

Even though fertilizer prices have stabilized or declined since Russia's invasion of Ukraine, prices remain significantly elevated and may deter farmers from pricing their fertilizer ahead of time. You can read more here:

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DRY
Date Range DAP MAP POTASH UREA
Jul 26-30 2021 695 753 549 554
Aug 23-27 2021 697 756 569 557
Sep 20-24 2021 709 786 625 585
Oct 18-22 2021 810 863 716 735
Nov 15-19 2021 825 911 769 859
Dec 13-17 2021 858 935 796 901
Jan 10-14 2022 863 932 807 913
Feb 7-11 2022 876 935 815 905
Mar 7-11 2022 919 955 822 901
Apr 4-8 2022 1040 1056 875 1031
May 2-6 2022 1057 1081 881 1001
May 30-Jun 3 2022 1056 1079 880 979
Jun 27-Jul 1 2022 1039 1053 885 867
Jul 25-20 2022 1005 1041 887 836
         
LIQUID
Date Range 10-34-0 ANHYD UAN28 UAN32
Jul 26-30 2021 631 737 365 419
Aug 23-27 2021 632 748 370 420
Sep 20-24 2021 633 772 383 436
Oct 18-22 2021 659 940 451 492
Nov 15-19 2021 739 1220 571 651
Dec 13-17 2021 790 1420 579 663
Jan 10-14 2022 796 1430 584 679
Feb 7-11 2022 827 1487 600 699
Mar 7-11 2022 866 1490 603 704
Apr 4-8 2022 901 1534 629 729
May 2-6 2022 906 1534 631 730
May 30-Jun 3 2022 905 1529 633 731
Jun 27-Jul 1 2022 904 1466 611 702
Jul 25-20 2022 894 1431 596 693

 

Green Play Ammonia™, Yielder® NFuel Energy.
Spokane, Washington. 99212
www.exactrix.com

509 995 1879 cell, Pacific.
exactrix@exactrix.com