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OMAHA (DTN) -- Retail fertilizer prices continue their recent trend of mostly lower fertilizer prices, according to prices tracked by DTN for the second week of March 2019. This marks the third week in a row that prices are declining.
Like last week, five of the eight major fertilizers' prices were lower compared to last month. Once again, the moves lower were fairly minor. DAP had an average price of $510/ton, MAP $534/ton, urea $402/ton, UAN28 $269/ton and UAN32 $318/ton.
Three fertilizers were higher compared to the prior month, but again the move higher was slight. Potash had an average price of $386/ton, anhydrous $596/ton and UAN32 $318/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.44/lb.N, anhydrous $0.36/lb.N, UAN28 $0.48/lb.N and UAN32 $0.50/lb.N.
The prices of all eight major fertilizers are now higher, compared to last year: MAP by 6%, both DAP and urea are up 9%, potash rose by 10%, 10-34-0 by 11%, UAN32 by 13%, UAN28 increased 14%, and anhydrous jumped 19%.
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.
May corn finished up ¼ of a cent, May beans up 2 cents, and May wheat up 8 1/4 cents. Dovish comments by the Fed were the biggest news around the trade today. The weaker dollar helped wheat find some more support that created some buying that spilled over into corn and beans. Headlines about a trade deal coming along nicely according to President Trump didn’t bring out buyers. The news is old and the market is tired of it. Today was the 7th consecutive day with no daily export sale announced and the bearish impact seemed to be limited due to the rally in wheat. According to Reuters the US producer has found some company in the Argentine farmer who is not marketing what is expected to be a 55MMT soybean crop because the Chicago board is too low. Managed money shorts, no export announcements, and delays regarding the trade deal are weighing on prices and farmers continue holding out for good (read bullish) news.