Central Florida: The Central Florida DAP market continued to be quoted at $430/st FOB for truck-loaded material. MAP was listed $20/st higher at $450/st FOB, with no sales reported.
U.S. Gulf: Buying interest kicked up slightly on the NOLA barge market last week as a spate of imports inched closer to arrival.
Along with Chinese DAP left over from a recently discharged vessel, imports from Morocco, Russia, China, and possibly Mexico were expected to be available in September. At least one vessel was expected early in the month, believed to be of either Moroccan or Russian origin.
The owner of a Mexican MAP cargo remained undecided on a final destination, one source said, preferring to keep their options open. Potential landing spots included NOLA, Brazil, or other Latin American markets. The cargo is scheduled to load in first-half September, said the contact.
With so many imports on the menu, trading of domestic product was limited or nonexistent. Transactions instead focused on “open origin” offers, with nearby DAP sales reported in a range of $430-$434/st FOB.
Nearby open origin MAP was called $437-$440/st FOB, though market watchers said actual sales were few and far between.
Full-September DAP paper trading clocked in at $428-$429/st FOB, and October DAP paper was reported in the $415-$419/st FOB range.
The widely variable spot freight rates reported out of NOLA in recent weeks were said to be less of a factor in the current market, though some speculated that their return could spur upward pressure in terminal and warehouse pricing. Not everyone agreed, however.
“Most people have contract freight,” one trader said. “Very few people are actually having to pay spot rates.”
The NOLA DAP market was quoted in a range of $430-$434/st FOB for the week, down from $434-$435/st FOB at last report. MAP was called $437-$440/st FOB, down from $440-$445/st FOB the week before.
Eastern Cornbelt: DAP was quoted at $465-$475/st FOB in the Eastern Cornbelt, with the low reported out of multiple river locations and the upper end at inland warehouses. MAP remained at a $5-$10/st premium to DAP, depending on location, with the Cincinnati MAP market pegged at $470-$475/st FOB last week.
10-34-0 was reported at $510-$520/st FOB in the region, with the low for fill tons offered earlier in the month. “Some commitments were made due to fears about availability,” said one regional contact. “The program order period is over, but the market is still the same.”
Western Cornbelt: DAP was quoted at $465-$470/st FOB in the region, with MAP roughly $10/st higher. Although the warehouse market was described as steady, some contacts said rising freight rates could result in an uptick in near-term prices.
The 10-34-0 market was quoted at $520-$525/st FOB in the region.
Effective Sept. 1, Agrium’s phosphoric acid postings will firm $10/ton of P2O5 from August pricing levels, moving to $1,030/ton for rail-DEL SPA and MGA in Iowa, Missouri, Nebraska, Kansas, Colorado, Arizona, and California, and $1,045/ton in Oklahoma and Texas.
Northern Plains: DAP was steady at $465/st FOB the Twin Cities, with MAP at the $475/st FOB level at that location. North Dakota sources quoted rail-delivered MAP in the $505-$512/st range, down some $8-$10/st from last report.
The 10-34-0 market was quoted at $480/st DEL in North Dakota for fall tons. No current FOB prices were reported for 10-34-0 in the region last week.
Effective Sept. 1, Agrium’s phosphoric acid postings will firm $10/ton of P2O5 from August pricing levels, moving to $1,030/ton in Minnesota and $1,045/ton in the Dakotas for rail-DEL SPA and M