Core Ideas: We assessed the movement capacity of different P. Banding P fertilizer in suboptimal placement reduced wheat yield with monocalcium phosphate. Diammonium phosphate compensated for the reduction in wheat yield due to suboptimal placement. Banding of P can increase P availability to crops. Our objective was to determine if banding two forms of P fertilizer at multiple distances from the seed can improve wheat (Triticum aestivum L.) growth and P uptake vs. broadcast P fertilizer application. Waters‐soluble and Ca₂– P concentrations in soil was greater near the point of P placement when monocalcium phosphate was used compared to diammonium phosphate, while the opposite result was found when the P diffusion distance was greater than 2 cm from the P placement. Another field experiment with four application strategies (broadcasting P, banding P under the wheat row, and banding P 5 and 12 cm from the wheat row) and two P forms was conducted over 2 yr. Banding P under the wheat row increased wheat yield and P uptake regardless of the P form compared to broadcasting P. Banding 12 cm from the row resulted in a 6.0% reduction in wheat yield for monocalcium phosphate compared to broadcasting P. Banding diammonium phosphate 5 or 12 cm from the row provided yield compensations over monocalcium phosphate. Dry matter at regreening was significantly depressed for banding 5 or 12 cm from the row with monocalcium phosphate application relative to broadcasting P, while there was compensatory growth for banding 5 cm from the row after regreening. Root length proliferated with diammonium phosphate than with monocalcium phosphate regardless of band placement. Diammonium phosphate should not be placed more than 5 cm from the row to ensure maximum P uptake potential.