U.S. Gulf:
NOLA potash barges continued to firm. Players are now calling the most recent trades within the $330-$345/st FOB range for May-June tons, with $350/st FOB being quoted for the next round of business. Domestic producers are posted as high as $365/st FOB.
Eastern Cornbelt:
Potash was pegged at $375-$400/st FOB in the region, with the low confirmed out of river terminals in Illinois for May-June tons and the high out of inland warehouses. Reference prices from Canadian producers are now at $395-$400/st FOB for Q4 shipments, with order books fully committed through September.
Western Cornbelt:
Sources quoted potash pricing at $375-$400/st FOB in the Western Cornbelt, depending on location and time of shipment, with the low confirmed at St. Louis, Camanche, and Caruthersville for prompt tons. Sources reported prompt offers at the $380/st level FOB St. Paul during the week.
Northeast:
Potash prices in the Northeast edged up to $390/st FOB Fairless Hills, Pa., on May 17, up $10/st from the previous posted level.
California:
The potash market in California was unchanged at $505/st FOB for 60 percent MOP and $515/st FOB for 62 percent.
Pacific Northwest:
Potash pricing was quoted at $460-$470/st FOB and $470-$480/st DEL in the Pacific Northwest, up some $20-$30/st from last report, depending on grade and location. Sources said a significant amount of fill tons were booked earlier in the month at the $442/st DEL level for shipment by the third quarter, but new offers are now up $30/st.
Potash postings from Intrepid FOB Moab and Wendover, Utah, firmed $20/st on May 10, to $445/st FOB for 60 percent white standard and $450/st FOB for 60 percent white granular.
Western Canada:
Early fill program offers for potash were circulating at the C$505/mt level FOB Saskatchewan mines in early May, but those offers are now off the table. New pricing reportedly returned to the C$530/mt FOB level again after the fill program order period ended.
India:
Belarus Potash Co. (BPC) is reported to have been awarded the full tonnage under RCF’s May 3 tender for the supply of 105,000 mt of standard potash (35,000 mt firm quantities and 70,000 mt at the buyer’s option). Sources said the award was made at a price level above the current contract price of $280/mt CFR, but this could not be confirmed by press time.
Bangladesh:
The Ministry of Agriculture has extended the closing of its annual purchase tender for the supply of potash and DAP to June 3, back from the original May 27 closing date (GM May 7, p. 19). The ministry is looking for 200,000 mt of standard potash for shipment by Oct. 15.
Brazil:
Strong demand for MOP at Paranagua has moved the price up to $385-$390/mt CFR. Sources said buyers are looking for product but finding only limited tons at the ports and inland.
Rondonopolis is pegged at $490-$540/mt FOB ex-warehouse, up $70/mt on the low end and $44/mt on the high end. The soybean barter rate for 1 mt of MOP changed from 21 bags last week to 23 bags this week. The barter rate for corn remains at 55 bags for 1 mt of MOP.
South Korea:
MOP imports in South Korea for the first four months of the year were down 14 percent, to 256,000 mt from 298,000 mt during the same period last year. April imports were also down
Imports in April 2021 alone were at 67,000 mt against April 2020 imports of 298,000 mt. Even though the numbers were down significantly, the April 2021 imports were in the ballpark for monthly MOP imports so far this year. The average import amount in the first quarter was 63,000 mt/month.