Central Florida:
DAP trucks loading from Central Florida were quoted at $550/st FOB for the week, up from $540/st FOB at last report. MAP continued to display a premium to DAP at $565-$580/st FOB, rising from $555-$570/st FOB noted previously.
U.S. Gulf:
Market players described a largely sideways market amid a quiet week of trading, with DAP prices edging higher while MAP barges remained mostly unchanged.
Sources generally quoted a $542-$545/st FOB high for NOLA DAP barges, lifting from the week-ago $540/st FOB ceiling, while the bottom of the range pushed $5/st above the prior $530/st FOB to $535/st FOB. Offers for domestic material were quoted at $545/st FOB.
Most sources noted MAP ideas up to $590/st FOB, steady from one week earlier, while offers were reported as low as $575/st FOB. March offers noted up to $595/st FOB were reportedly not attracting much interest on March 18.
NOLA DAP barges were reported firming to $535-$545/st FOB, up from the week-ago $530-$540/st FOB. MAP barges were quoted at $575-$590/st FOB NOLA, unmoved from the prior week.
U.S. Exports:
Sources described a quiet week on the Gulf export market. Recent spot business included a 7,000 mt DAP load selling into Latin America and priced at $580/mt FOB, slated to ship at the end of March.
Lacking in fresh data points, the Gulf DAP and MAP export markets continued to be quoted at $580/mt FOB, steady from the prior report.
Eastern Cornbelt:
DAP was quoted at $565-$585/st FOB in the Eastern Cornbelt, with the low reported at Cincinnati and out of spot Illinois terminals. MAP was steady at $610-$635/st FOB in the region, with the low at Cincinnati. Most Illinois terminals were pegged in the $620-$625/st FOB range at mid-month.
Western Cornbelt:
DAP pricing firmed slightly to $565-$585/st FOB in the Western Cornbelt, up another $5/st from last report, with the low reported at St. Louis and the upper end at Dubuque, Iowa. The market FOB Catoosa/Inola was pegged at $570-$580/st FOB, with pricing at St. Paul reported at $570-$585/st FOB.
MAP was quoted at $620-$645/st FOB in the region, with the low confirmed at St. Louis and Dubuque. Sources pegged the St. Paul MAP market at $625-$645/st FOB, with pricing at Catoosa/Inola quoted at $625-$640/st FOB at mid-month.
Southeast:
Nutrien reported that its reference price for DAP and MAP moved to $570/st FOB Aurora, N.C., up $10/st from last week, but the company said it was not accepting new orders until further notice.
California:
The MAP market remained at a firm $690/st FOB or DEL in California.
Pacific Northwest:
MAP pricing remained at $677/st FOB Aurora, Ore.; $680/st DEL in Washington, Oregon, and northern Idaho; $670/st DEL in southern Idaho and Utah; and $660/st DEL in Montana.
Western Canada:
The MAP market in Western Canada had reportedly firmed to C$945-$960/mt DEL and C$935-$950/mt FOB in mid-March, up from earlier river-open offers that were reported as low as C$895-$905/mt in late February.
Saudi Arabia:
Recent phosphate cargoes loading from Saudi Arabia were heard firming to the $450-$560/mt FOB range, increasing from $450-$530/mt FOB noted previously.
China:
Sources said DAP prices are softening, with offers now around $560/mt FOB and bids in the mid-$550s/mt FOB. Sources reported that some small deals were done this week in the mid-$560s/mt FOB.
The softness in the market has given buyers hope that further declines are coming. Sources said many are now holding off on signing any major deals on the assumption that prices will continue to fall.
Producers, on the other hand, continue to note that DAP is not as plentiful as the buyers believe. Many of the plants are continuing their shift from DAP production to MAP and NPKs.
India:
Buyers are pushing for lower DAP prices. Reportedly, they are bidding Chinese producers at $550/mt FOB, but so far without success.International traders said buyers and producers appear to be moving closer together, however, which could soon result in some major tons being secured by India.
Brazil:
Suppliers continue to push for higher prices, even as buyers strongly resist. Sources put the MAP price at Paranagua at $610-$630/mt CFR, representing a slight retreat on prices in a rising market.
The Rondonopolis price has tightened as supply and demand expectations come closer to a common view. Sources now put the price at $728-$768/mt FOB ex-warehouse from last week’s wider range of $700-$800/mt FOB.The barter rate for 1 mt of MAP remained at 75 bags of corn or 31 bags of soybeans.