Urea Leads Fertilizer Prices Higher

06 May.,2024

 

Urea Leads Fertilizer Prices Higher

With the mild weather seen across the Corn Belt, farmers could be seeing an early spring. This situation might allow them to change their fertilizer application plans.

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In a post titled "Thinking of Getting an Early Start on Fertilizer Applications? Here are a Few Things to Consider," University of Minnesota Extension nutrient management specialists discuss what options farmers might consider with more time to apply nutrients this spring.

Most fertilizers are water-soluble and will dissolve readily at this point, according to the post.

If the soil is not frozen, any fertilizer that dissolves will react with it and stay where applied. Nitrogen in fertilizers, such as MAP or DAP, is in the ammonium form andnot subject to volatility.

While nitrogen in the form of anhydrous ammonia and urea could be applied early, UAN should not be. Urea ammonium nitrate solutions contain half of the nitrogen as urea, so volatility can be an issue.

"A larger problem is that a quarter of the N in UAN is already in the nitrate form at application, and nitrate is subject to loss if there is excess water," according to the post.

All fertilizers except two are now lower by double digits compared to one year ago. MAP is 1% lower, DAP is 8% less expensive, urea is 12% lower, 10-34-0 is 16% less expensive, UAN28 is 21% lower, potash is 23% less expensive, UAN32 is 24% lower and anhydrous is 26% less expensive compared to a year prior.

A Kansas State University Extension specialist said fertilizer prices are on a different trend in 2024 compared to 2023. You can read about it here: https://www.dtnpf.com/….

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

In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….

Dry Date Range DAP MAP POTASH UREA Mar 6-Mar 10 2023 825 823 657 643 Apr 3-7 2023 818 809 642 625 May 1-5 2023 826 805 623 599 May 29-Jun 2 2023 824 832 620 622 June 26-30 2023 825 829 620 616 July 24-28 2023 795 791 594 581 Aug 21-25 2023 735 764 557 575 Sep 18-22 2023 702 757 501 566 Oct 16-20 2023 709 791 504 574 Nov 13-27 2023 717 811 511 574 Dec 11-15 2023 713 819 517 540 Jan 8-12 2024 726 807 510 526 Feb 5-9 2024 736 809 508 528 Mar 4-8 2024 760 816 505 564 Liquid Date Range 10-34-0 ANHYD UAN28 UAN32 Mar 6-Mar 10 2023 740 1059 436 522 Apr 3-7 2023 740 1002 423 507 May 1-5 2023 739 926 424 507 May 29-Jun 2 2023 739 791 413 478 June 26-30 2023 731 753 396 468 July 24-28 2023 715 691 383 442 Aug 21-25 2023 698 622 355 399 Sep 18-22 2023 610 763 352 405 Oct 16-20 2023 612 809 356 418 Nov 13-27 2023 613 843 361 415 Dec 11-15 2023 595 851 339 409 Jan 8-12 2024 600 776 336 391 Feb 5-9 2024 610 773 335 390 Mar 4-8 2024 622 788 344 396

Russ Quinn can be reached at Russ.Quinn@dtn.com.

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Urea Leads Prices for All Eight Fertilizers Higher

A fertilizer spill in southwestern Iowa led to a fish kill in a nearby river, according to an Iowa Department of Natural Resources news release. The spill happened early March 11 at the New Cooperative facility near Red Oak in Montgomery County.

Approximately 1,500 tons of liquid nitrogen fertilizer (UAN32%) was discharged into a drainage ditch and then into the East Nishnabotna River. The release was due to a valve left open on an aboveground storage tank overnight.

Due to low water levels in the river, the concentration of fertilizer is higher than during normal stream flows, causing some concern for all animals due to high nitrate and urea levels. Dead fish were observed in the river.

Iowa State University College of Veterinary Medicine toxicologist Scott Radke recommends keeping all animals away from the river until the plume of contaminant moves out of the area. The investigation is ongoing, according to the Iowa Department of Natural Resources.

All fertilizers except two are now lower by double digits compared to one year ago. MAP is 1% lower, DAP is 7% less expensive, urea is 11% lower, 10-34-0 16% less expensive, UAN28 is 17% lower, potash is 23% less expensive, UAN32 are 24% lower and anhydrous is 26% less expensive compared to a year prior.

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

In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….

An early spring means farmers might be considering changes to their fertilizer plans, according to the University of Minnesota Extension. You can read about it here: https://www.dtnpf.com/….

DRY Date Range DAP MAP POTASH UREA March 13-17 2023 825 821 655 638 April 10-14 2023 821 809 642 625 May 8-12 2023 828 826 627 664 June 5-9 2023 822 832 618 622 July 3-7 2023 824 827 619 615 July 31-Aug 4 2023 766 773 579 572 Aug. 28-Sept. 1 2023 730 736 518 563 Sept. 25-29 2023 703 777 508 570 Oct. 23-27 2023 713 799 507 574 Nov. 20-24 2023 713 811 512 570 Dec. 18-22 2023 721 815 517 537 Jan. 15-19 2024 727 810 510 530 Feb. 12-16 2024 739 809 504 529 March 11-15 2024 771 817 505 566 LIQUID Date Range 10-34-0 ANHYD UAN28 UAN32 March 13- 17 2023 740 1059 428 521 April 10-14 2023 740 1003 427 507 May 8-12 2023 739 910 423 517 June 5-9 2023 739 787 411 478 July 3-7 2023 730 752 396 466 July 31-Aug. 4 2023 713 638 378 411 Aug. 28-Sept. 1 2023 607 680 355 391 Sept. 25-29 2023 610 767 353 413 Oct. 23-27 2023 610 825 360 418 Nov. 20-24 2023 583 833 338 402 Dec. 18-22 2023 599 807 342 402 Jan. 15-19 2024 601 770 334 391 Feb. 12-16 2024 610 771 336 392 March 11-15 2024 622 789 355 397

Russ Quinn can be reached at Russ.Quinn@dtn.com.

Follow him on X, formerly known as Twitter, @RussQuinnDTN.

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