Sorry, you need to enable JavaScript to visit this website.

Market News

OMAHA (DTN) -- Fertilizer prices continue to move higher according to prices tracked by DTN for the first week of March 2024. For the first time in several months, a fertilizer showed a notable price move.

Seven of the eight major fertilizer prices were higher compared to a month earlier, marking the fourth week in a row that prices were mostly higher. DTN designates a significant move as anything 5% or more.

Urea pushed considerably higher, up 7% from last month. The nitrogen fertilizer had an average price of $564/ton.

Six other fertilizers were slightly more expensive. DAP had an average price of $760/ton, MAP $816/ton, 10-34-0 $622/ton, anhydrous $788/ton, UAN28 $344/ton and UAN32 $396/ton.

Meanwhile, remaining fertilizers were just slightly lower in price compared to last month. Potash had an average price of $505/ton.

On a price per pound of nitrogen basis, the average urea price was $0.61/lb.N, anhydrous $0.48/lb.N, UAN28 $0.61/lb.N and UAN32 $0.62/lb.N.

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.

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.

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

For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
See What 100 Years Can Do

In July 2016, Farm Credit marked 100 years of support for rural communities and agriculture, a milestone celebrated throughout the year and now drawing to a close. See highlights from Farm Credit's year-long centennial celebration. 

Magazine Sign-Up