U.S. Gulf: UAN barges continued a bullish tone last week, with prices generally quoted in the $170-$180/st ($5.31-$5.63/unit) FOB range. Most were at the higher end of the range, with product now being quoted at $180-$185/st ($5.63-$5.78/unit) FOB for the next round of business.
When prices were back in the $160s/st FOB, some sellers were very hesitant to sell, citing a perception that a lot of upriver tanks had low inventories and that buyers would have to step up soon.
In the meantime, players now called the most recent trade on the East Coast at $185/mt CFR.
Eastern Cornbelt: The UAN-28 market had reportedly inched up to $185-$196/st ($6.61-$7.00/unit) FOB in Ohio and Indiana, with UAN-32 reported in the low-$220s/st ($6.90-$6.95/unit) FOB spot river locations in the Illinois market.
Western Cornbelt: UAN-32 remained at $220-$230/st ($6.88-$7.19/unit) FOB in the Western Cornbelt.
Southern Plains: UAN-32 pricing in the Southern Plains was reportedly moving up in the wake of the firming ammonia and urea markets.
Sources quoted the low end of the market at $220/st
($6.88/unit) FOB regional production points for new business, up $20/st or more from early February, with the upper end of the regional market reported at the $230/st
($7.19/unit) FOB terminal level.
South Central: UAN-32 was pegged at $205-$215/st ($6.41-$6.72/unit) FOB in the South Central region, up $5/st from last report, with the low again reported in the Memphis market and the upper end quoted by Kentucky sources out of spot river locations.
Southeast: Sources reported rapidly firming markets for UAN in the Southeast, with sellers referencing higher replacement costs.
The week began with reports of UAN-32 in the $185/st ($5.78/unit) FOB range out of some port and inland terminals in the region. By midweek, however, spot pricing at Wilmington, N.C., had reportedly firmed to the $191/st ($5.97/unit) FOB level or higher, while reference pricing FOB Savannah, Ga., was quoted at $210/st ($6.56/unit) FOB at the upper end.
The Baltimore, Md., market had reportedly firmed as well, to $190-$195/st ($5.94-$6.09/unit) FOB from the prior week’s $180-$185/st ($5.63-$5.78/unit) FOB range.