Retail fertilizer prices in U.S. fall for third straight week led by urea

US retail fertilizer prices were mostly lower for the third consecutive week, DTN said July 8, with urea leading four nutrients to declines of 5% or more, even as the broader eight-fertilizer complex remains well above year-ago levels.

Urea fell 12% to an average of $718 a ton, the steepest drop among the eight fertilizers DTN tracks. UAN32 slipped 9% to $533 a ton, anhydrous ammonia dropped 7% to $1,036 a ton, and UAN28 declined 6% to $504 a ton. MAP and 10-34-0 posted smaller declines, averaging $953 and $725 a ton, respectively. DAP and potash bucked the trend, edging up to $910 and $494 a ton.

On a nitrogen-cost basis, urea averaged $0.78 a pound of nitrogen, anhydrous $0.63, UAN28 $0.90 and UAN32 $0.83. DTN said mostly lower prices have now persisted for a full month.

The pullback comes as the USDA rolled out a $500 million Fertilizer Investment and Expansion for Long-Term Domestic Supply plan aimed at growing domestic production capacity. “We want fertilizer produced in America, and we want fertilizer delivered in America to American farmers,” USDA Secretary Brooke Rollins said. Despite the recent declines, all eight fertilizers remain higher than a year ago, with anhydrous up 35%, UAN28 up 20% and MAP up 13%.

Source: DTN Progressive Farmer