All retail fertilizers prices are once again lower for the third consecutive week. Anhydrous led the way to the low side, down 7% compared to last month, with an average price of $1,336/ton. The remaining seven fertilizers, meanwhile, were just slightly lower.
For the first time during this most recent price shift lower, all eight of the major fertilizers were less expensive compared to last month. Two fertilizers, urea and anhydrous, had significant price declines while the remaining six fertilizers were slightly lower.
All eight of the major fertilizers were lower in the second week of August 2022 compared to last month. Half of the fertilizers were significantly lower, which DTN designates as anything 5% or more. Urea and anhydrous were 6% less expensive compared to last month, while DAP and UAN28 were 5% lower.
July was characterized by general nitrogen price increases due to spillover from continued developments in European natural gas prices. Conversely, we saw a large correction to UAN values.
Although retail fertilizer prices continue to slip lower amid low demand, that s typical of summertime and prices remain higher than last year. Global supply problems that have contributed to sharply higher year-over-year prices have led one major producer to announce more production cuts.