OMAHA (DTN) -- The prices of most retail fertilizers remain lower than at the same time last month, although three prices saw small upticks, according to prices tracked by DTN for the second week of February 2020.

Only one fertilizer had a noteworthy price decline, which DTN considers a move of 5% or more. The average retail DAP price declined 5% and had an average price of $413/ton.

Four other fertilizers had a minor price decline from the previous month. MAP had an average price of $435/ton, down $9; potash $373/ton, down $2; 10-34-0 $464/ton, down $6; and UAN28 $235/ton, down $2.

The remaining three fertilizers also had minor price increases compared to last month. Urea had an average price of $361/ton, up $4; anhydrous $490/ton, up $3; and UAN32 $277/ton, up $2.

On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.30/lb.N, UAN28 $0.42/lb.N and UAN32 $0.43/lb.N.

Fertilizer company stocks took a tumble last week as forecasts for lower fertilizer prices lowered analysts' projections. Dow Jones reported Citi downgraded CF Industries, Mosaic and Nutrien stocks to neutral from buy and slashed price targets on shares.

The Citi analysts say price weakness, despite significant supply discipline in phosphate and potash, along with a flattening nitrogen cost curve has them moving to the sidelines. Citi cut its target prices to $43 from $56 for CF, to $21 from $29 for Mosaic and to $47 from $61 for Nutrien.

They added that FMC, supported by its research and development pipeline and patent protection, remains their top pick in the ag space, followed by Corteva, according to Dow Jones.

Retail fertilizers are now all lower in price from a year ago. MAP and DAP are both now 19% lower, anhydrous is 18% less expensive, both UAN28 and UAN32 are 13% lower, urea is 11% less expensive, potash is 3% lower and 10-34-0 is 1% less expensive from last year at this time.

DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.

DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.

Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.

DRY
Date Range	DAP	MAP	POTASH	UREA
Feb 11-15 2019	512	537	385	405
Mar 11-15 2019	510	534	386	402
Apr 8-12 2019	505	532	387	404
May 6-10 2019	501	527	391	418
Jun 3-7 2019	497	527	392	434
Jul 1-5, 2019	498	532	392	432
Jul 29-Aug 2 2019	494	530	393	428
Aug 26-30 2019	491	494	387	412
Sep 23-27, 2019	479	475	384	404
Oct 21-25, 2019	465	473	383	404
Nov 18-22 2019	456	466	381	387
Dec 16-20 2019	444	460	378	377
Jan 13-17 2020	433	444	375	357
Feb 10-14 2020	413	435	373	361
Liquid
Date Range	10-34-0	ANHYD	UAN28	UAN32
Feb 11-15 2019	470	596	271	318
Mar 11-15 2019	469	596	269	318
Apr 8-12 2019	481	592	271	317
May 6-10 2019	487	595	267	310
Jun 3-7 2019	487	591	271	314
Jul 1-5, 2019	482	584	276	317
Jul 29-Aug 2 2019	486	580	272	320
Aug 26-30 2019	470	528	256	290
Sep 23-27, 2019	471	511	254	289
Oct 21-25, 2019	471	507	251	291
Nov 18-22 2019	472	496	245	284
Dec 16-20 2019	469	487	239	276
Jan 13-17 2020	470	487	237	275
Feb 10-14 2020	464	490	235	277

Russ Quinn can be reached at russ.quinn@dtn.com

Follow him on Twitter @RussQuinnDTN

(KD/CZ)

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