Central Florida: Truck-loaded DAP offered on the Central Florida market was unchanged at $430/st FOB. MAP was listed at a $20/st premium to DAP.
U.S. Gulf: Sources reported a largely uneventful NOLA barge market last week.
Traders were generally bearish on the market’s fourth-quarter prospects coming out of the TFI World Conference in Boston, but limited supply kept nearby pricing relatively static compared to the previous trading period. Few deals were completed, although market players disclosed a small number of DAP transactions priced in a range of $420-$426/st FOB.
Domestic DAP sales were responsible for the range’s upper end, while Chinese imports accounted for the bulk of the rest. Several sources described delivered prices of domestic and imported material as nearly identical, with imports’ larger non-contract freight pricing responsible for deflating net values.
“The low DAP numbers are for Chinese material with spot freight,” one sources said. Another trader claimed some import offers computed to a higher total price than competing domestic offers when unpredictable spot freight rates were factored in.
Nearby supply was an issue for the week. “Prompt availability of product is low, but by the end of this week, tons of product will be available from multiple sources,” said one source.
First among expected deliveries were a pair of Chinese vessels rumored to carry cargoes of both DAP and MAP. One vessel was in the process of discharging in the NOLA area on Oct. 1, sources said, while the other was slated to enter the Panama Canal on or around Oct. 4 en route to the Gulf of Mexico.
The status of the cargoes was actively debated in the market. Asked one trader, “Who’s going to take them? Are (the sellers) going to consign? Are they sold already?”
Possible deliveries slated for imminent arrival included a cargo of Moroccan product, as well as an additional unnamed vessel sources described as unconfirmed as of Oct. 1.
The NOLA DAP market was called $420-$426/st FOB, down slightly from the previous week’s range of $420-$427/st FOB. Market players put MAP in a range of $430-$433/st FOB, down from $430-$435/st FOB at last report.
DAP paper was called $415-$420/st FOB for October, and $390-$400/st FOB for November and December.
Eastern Cornbelt: DAP pricing remained at $455-$465/st FOB regional warehouses in the Eastern Cornbelt, with MAP $10/st higher than DAP.
10-34-0 was quoted at $530/st FOB in the Eastern Cornbelt.
Agrium’s phosphoric acid postings firmed $10/st of P2O5 on Oct. 1, with rail-DEL SPA and MGA prices moving to $1,040/st in Wisconsin and $1,080/st in Michigan.
Western Cornbelt: DAP was steady at $455-$465/st FOB in the Western Cornbelt, with MAP quoted in the $465-$475/st FOB range.
The 10-34-0 market remained at $525-$535/st FOB for limited tons in the region.
Effective Oct. 1, Agrium’s phosphoric acid postings firmed $10/st of P2O5 from September pricing levels, moving to $1,040/st for rail-DEL SPA and MGA in Nebraska, Missouri, Iowa, and Minnesota, and $1,055/st rail-DEL in the Dakotas.
California: MAP was quoted at $545-$555/st FOB or rail-DEL in California, reflecting a slight drop from last report. The 16-20-0 market was unchanged at $408-$415/st rail-DEL or FOB in the state, with TSP (0-45-0) tagged at $525/st FOB French Camp.
Simplot’s postings for phosphoric acid moved up $0.15/unit on Oct. 1, to $10.55/unit rail-DEL in California for both SPA and MGA, with MGA also referenced at the $10.75/unit level FOB Lathrop. Also effective Oct. 1, Agrium’s phos acid postings firmed $10/st from September pricing