U.S. Gulf: The potash barge market was starting to weaken last week. Most sources put the high at $370/st FOB, and others said the bottom had dropped to as low as $366/st FOB. The business was attributed to barge trades off import vessels.
Eastern Cornbelt: Potash was quoted at a firm $410-$420/st FOB in the Eastern Cornbelt, depending on grade and location.
Western Cornbelt: Potash pricing in the Western Cornbelt was steady at $410-$417/st FOB regional warehouses, with the low for red and the upper end for white granular. “There are still some issues on getting potash deliveries in,” said one source. “Other than that, it’s really quiet.”
Southern Plains: Potash pricing out of regional warehouses in the Southern Plains was pegged at a firm $410-$415/st FOB, up another $5-$10/st from last report.
Effective Oct. 2, Intrepid’s potash postings FOB Carlsbad, N.M., firmed to $405/st FOB for 60 percent standard, $410/st FOB for 60 percent granular and 62 percent standard, and $417/st for 62 percent granular and Super Sol 62 percent. Those levels were up $20/st from Intrepid’s May 30 postings.
Sulfate of potash magnesia was steady at $365-$380/st FOB Carlsbad, depending on grade.
South Central: Potash was tagged at a firm $405-$415/st FOB warehouses in the South Central region, with the low reported in the Memphis market.
Southeast: The potash market was pegged at $407-$415/st FOB and $410-$420/st rail-DEL in the Southeast for limited Canadian tons. There were reports of potash imports for as low as $390/st FOB in the region on a spot basis, but new sales at that level were not confirmed.
Malaysia: Canpotex has reportedly inked new business into the country for as high as $350/mt CFR. Southeast Asia standard had been a weaker market in past months, with competition from BPC keeping a lid on prices. A much higher standard price here may bode well for first-half contracts to India and China.