Fertilizer prices turn higher
Retail prices for some types of fertilizer have turned higher since bottoming out near the end of 2013. The price for a ton of Urea is reported at $531 last week, up $92 per ton or 20 percent from the low of $439 reported at the end of November. However, the price is still below the price for March of last year which came in at $574 per ton. The urea price has turned higher in the last few months, but the price for anhydrous ammonia has not. The price for a ton of anhydrous is down about 4 percent from the level recorded last November, but it has rebounded slightly from the low in January. But prices for anhydrous at planting time last spring were about $850 per ton compared to last week’s price of $622 per ton. Clearly farmers will see lower prices for nitrogen fertilizer this spring than they did last year.
click image to zoom The price for DAP has also ticked up in the last few months. The DAP price fell to $496 per ton in December, but has now rebounded to $553. The DAP price is down 10 percent year-over-year and 14 percent compared to the March 2012 level. In the fall of 2011 DAP prices peaked at $714 per ton.
Potash prices are down by about 20 percent from their year ago level but the price has not increased in recent months. The price for potash has declined steadily from $660 per ton in the spring of 2012 to the March price of $474. The problem in the Ukraine could impact potash prices in the next few months since a lot of the world’s potash supply comes from that part of the globe.