DTN Retail Fertilizer Trends: Market Movements Remain Erratice

Average retail fertilizer prices were mixed the third week of November 2020, continuing a trend that has lasted for several months, according to retailers surveyed by DTN.

Prices for five fertilizers were slightly lower compared to the previous month, though none was down a significant amount, which DTN designates as 5% or more. Urea had an average price of $358 per ton, 10-34-0 $455/ton, anhydrous $422/ton, UAN28 $207/ton and UAN32 $249/ton.

The remaining three fertilizers were slightly higher in price from last month. DAP had an average price of $455/ton, MAP $488/ton and potash $336/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.26/lb.N, UAN28 $0.37/lb.N and UAN32 $0.39/lb.N.

The University of Minnesota Extension made changes to their corn fertilizer guidelines this spring and those alterations were reviewed in a recent Minnesota Crop News blog post titled “Highlights From Minnesota’s Updated Corn Fertilizer Guidelines.” Dan Kaiser, University of Minnesota Extension nutrient management specialist, authored the report.

Kaiser wrote that the new guidelines use the maximum return to nitrogen (MRTN) approach, which can be updated yearly. Minnesota Extension will be looking to add new data to the calculator following the 2020 growing season, Kaiser wrote.

The only change made to the phosphorus guidelines was the inclusion of a recommended strategy for use in a build-and-maintain approach. This approach aims to reduce the risk of soil test values increasing to a point where P loss increases.

“We recommend that you use a soil test range near the optimal soil test category and use a low-input, starter approach when soils are above critical soil test levels if phosphorus is going to be applied,” Kaiser wrote.

Potash changes were previously made to the corn K guidelines, which adjusted the soil test ranges for the current guidelines. The corn sulfur guidelines were further updated to reflect situations in poorly drained soils where responses have been more common.

As for micronutrients, Kaiser wrote that zinc is still the micronutrient that is most likely to be deficient for corn production. University research has looked at other micronutrients like boron but have not found widespread deficiencies.

“One thing I stress to many growers is to not neglect N, P, K or S in lieu of micronutrients,” he wrote. “Shorting the crop on macronutrients can have a greater impact on yield than micronutrients.”

To read the entire University of Minnesota report, click on the following link: https://blog-crop-news.extension.umn.edu/….

Retail fertilizer prices continue to be mostly lower in price from a year ago, but there now is one exception. MAP is 5% higher compared to last year with its recent surge to the high side.

DAP is 1% lower, 10-34-0 is 4% less expensive, urea is 8% lower, both potash and UAN32 are 12% less expensive, anhydrous is 15% lower and UAN28 are 16% less expensive than last year at this time.

DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.

DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.

Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.