DTN Survey Shows Fertilizer Prices Are Well Below Last Year’s

Most average retail fertilizer prices continued to be down from the previous month in the fourth week of April 2023, according to sellers surveyed by DTN.

Prices for seven of the eight major fertilizers were lower compared to March. DTN designates a significant move as anything 5% or more.

Anhydrous led fertilizer prices lower. The nitrogen fertilizer was 10% lower and had an average price of $928 per ton.

Urea was 5% less expensive. The nitrogen fertilizer had an average price of $595/ton. This was the first time since the third week of September 2021 that the price of urea was below the $600-per-ton level. That week, the average urea price was $585/ton.

Six other fertilizers were just slightly lower. MAP had an average price of $804/ton, potash $624/ton, 10-34-0 $740/ton, UAN28 $426/ton and UAN32 $508/ton.

One fertilizer, meanwhile, was slightly higher. DAP had an average price of $827/ton.

EDITOR’S TAKE:

Whether or not you know what all these types of fertilizers do or how they are used is irrelevant. What is important is that the prices for all, but one, continue to decline. This is good news for farmers/ranchers and for you! Why is this good news for you? Simple. Lower input costs, coupled with solid yields and commodity prices this year, will add up to another banner year for net farm income. Increasing profit margins and, hence, net farm income is good for truck sales. With inventories rebuilding rapidly in most instances on CAD member lots, the prospect of a well-qualified customer walking through your door searching for a truck has to be a welcome thought.