U.S. Gulf: Prompt potash barges have spiked in recent weeks, and were still fairly firm last week. Sources called the market $340-$345/st FOB.
Eastern Cornbelt: Potash was steady at $370-$377/st FOB regional warehouse in the Eastern Cornbelt, with the low for red and the upper end for white granular tons.
Western Cornbelt: Potash pricing was firm in the Western Cornbelt, with sources quoting the market consistently at $370/st FOB regional warehouses for red granular tons and $377/st FOB for white.
The K-Mag market was reported at the $465/st FOB mark on a spot basis in Iowa last week.
Southern Plains: The potash market was quoted at $365-$375/st FOB regional warehouses in the Southern Plains, up $10/st from last report. The Carlsbad, N.M., potash market remained at $350-$360/st FOB for new sales into the region, depending on grade.
South Central: The potash market had reportedly firmed to $370-$380/st FOB warehouses in the South Central region, up a full $15-$20/st from last report, with the Memphis market quoted firmly at the upper end of that range.
Southeast: Potash pricing out of warehouses in the Southeast had reportedly firmed to $375-$377/st FOB for truck tons. Sources pegged the rail-DEL market at the $375/st level as well, but, as one source put it, the rail market is “too backed up to be relevant for this season.” One source said he was still waiting on tons ordered much earlier this year at the $355/st rail-DEL level.
India: Canpotex Ltd. announced that it has agreed to an annual contract with its government and private sector partners in India to supply approximately 1 million mt of potash, for shipment through March 31, 2015, at a price of US$322/mt CFR. The price is in line with Uralkali’s recent business into India.
“We are very pleased to conclude these new supply contracts with our long-term Indian customers, and continue our role as a leading potash supplier to this important market,” said Steven Dechka, Canpotex president and CEO