U.S. Gulf: Most continued to put the potash market in the $415-$420/st FOB range for barges. However, some buyers were aggressively seeking $410-$412/st FOB for the next round of trading.
U.S. February MOP imports were up 29 percent, to 767,642 st from the year-ago 597,131 st. July-February imports were less robust and were up only 8 percent, to 6.3 million st from the year-ago 5.8 million st.
Eastern Cornbelt: Potash was quoted in the $450-$460/st range FOB most regional warehouses in the Eastern Cornbelt, indicating another slight drop from last report. One Illinois contact said he wouldn’t be surprised to see sub-$450/st FOB deals in the near term.
Western Cornbelt: Most sources tagged the potash market in the $450-$460/st range FOB warehouses in the Western Cornbelt region.
Southern Plains: Potash pricing remained in the $450-$455/st range FOB most regional warehouses in the Southern Plains, with granular pricing FOB Carlsbad, N.M., quoted at a nominal $465/st FOB.
South Central: Potash pricing was flat at $445-$450/st FOB in the South Central region.
Southeast: Potash pricing remained flat at $450-$455/st FOB port terminals and $460-$465/st DEL in the Southeast.
India: In an unusual move, MMTC called a tender for 100,000 mt of MOP to close April 15. The tender wants the 100,000 mt as a firm offer, with an additional 200,000 mt at the buyer’s option. Delivery of the material is to take place between now and March 2014.
Sources say given the nature of potash international trade, calling a tender was a most unusual move. One trader suggested the tender was called only for appearance’s sake.