Central Florida: Limited quantities of truck-loaded DAP were sold from the Central Florida Phosphate market last week. The trucks were priced at $405/st FOB, and were bound for destinations located in the Southeast. “That (price) won’t work outside the Southeast,” said one trader.
MAP continued to be listed at a $20/st premium to DAP.
U.S. Gulf: Prices on the NOLA barge market continued to tumble last week. Growing supply from foreign imports targeting NOLA discharge have overwhelmed demand and eroded prices, sources claimed.
Prompt DAP offers were said to begin the week in the $350-$355/st FOB range, but fell to $345/st FOB as of Dec. 2. MAP followed a similar track while maintaining an approximate $5/st premium to DAP.
The reduced offers extended a recent trend of late-week price drops. “Every Wednesday brings sharper offers,” one trader noted.
Some pointed to index pricing attached to the arriving cargoes as driving the barge market lower each week. Others were not convinced, attributing the lower prices to basic market fundamentals instead.
“I’d say the majority of the phosphate weakness is just that we have way too much here,” one trader said. “We’re expecting four Russian vessels, and there are Moroccan and Chinese cargoes rumored.”
Additionally, two vessels loaded with Chinese phosphate were rumored to be located in the Panama Canal on Dec. 3.
The NOLA DAP market was called in a range of $345-$355/st FOB for the week, down from $355-$365/st FOB at last check. MAP was $350-$360/st FOB, lower than $360-$370/st FOB in the previous report.
Eastern Cornbelt: DAP was unchanged at $435-$445/st FOB in the Eastern Cornbelt. MAP was generally $5/st higher than DAP, where available.
The 10-34-0 market remained at $510-$520/st FOB in the Eastern Cornbelt.
Western Cornbelt: DAP was pegged at $435-$445/st FOB in the Western Cornbelt, with MAP $5/st higher than DAP. There were reports of DAP and MAP being offered for as low as $410/st and $415/st FOB, respectively, at the port of Catoosa, Okla., but new prompt sales at those levels were not confirmed last week.
10-34-0 remained at a nominal $525-$540/st FOB in the region.
Agrium’s Dec. 1 phosphoric acid postings remained at November pricing levels of $1,050/st of P2O5 for rail-DEL SPA and MGA in Iowa, Nebraska, Missouri, Colorado, Kansas, Wisconsin, and Minnesota.
California: MAP remained at $545-$555/st FOB or rail-DEL in California. The 16-20-0 market was unchanged as well at $408-$415/st rail-DEL or FOB in the state, with TSP (0-45-0) steady at $525/st FOB French Camp.
Simplot’s December pricing for phosphoric acid remained at $10.50/unit rail-DEL in California for both SPA and MGA, with MGA also referenced at the $10.80/unit level FOB Lathrop. Agrium’s Dec. 1 phos acid postings were unchanged as well at $1,060/st of P2O5 for rail-DEL SPA and MGA in California and Arizona.
10-34-0 was quoted at $484-$489/st FOB in California, with 11-37-0 reported at $525-$530/st FOB.
Pacific Northwest: MAP continued to be quoted in a broad range at $513-$540/st DEL in the Pacific Northwest, although fill programs offered in late November were reportedly no longer on the table. 16-20-0 was pegged at $390/st DEL in the region, with TSP (0-45-0) reported at $520/st FOB Pocatello, Idaho.
Simplot’s December phos acid prices remained at $10.10/unit FOB Pocatello and $10.60/unit rail-DEL for SPA and MGA in the Pacific Northwest. Agrium’s Dec. 1 phos acid prices were unchanged as well at $1,060/st of P2O