U.S. Gulf:
The most recent business continued to be called $425-$435/st ($13.28-$13.59/unit) FOB, with sources generally believing a lot of business was done within that range. However, price ideas for the next round of business were expected to be higher, with reports of $485-$500/st or higher being tossed around.
U.S. Imports:
UAN imports for August were down 1.3 percent, to 200,452 st from the prior-year 203,071 st. Imports totaled 415,495 st in the July-August period, however, a 1.6 percent year-over-year increase from 408,864 st.
Trinidad and Tobago topped July-August imports with 176,758 st, up 5.1 percent from last year’s 168,200 st. Russia trailed with 148,486 st, falling 30.2 percent from the prior-year 212,822 st. Canada’s year-to-date total stood at 62,654 st, up 262.7 percent from the year-ago 17,273 st.
U.S. Exports:
UAN exports totaled 78,352 st in August, off 29.2 percent from the year-ago 110,619 st. July-August exports were down 17.7 percent, to 160,173 st from the year-ago 194,710 st.
Eastern Cornbelt:
Limited UAN-32 offers were pegged in the $480-$500/st ($15.00-$15.63/unit) FOB range in the region, depending on location, up from $450-$475/st the week before. The low end of the regional market was pegged at $415/st ($14.82/unit) FOB Cincinnati for UAN-28 offers earlier in the week, with reports that UAN-32 pricing at Cincinnati had inched up to $495-$500/st ($15.47-$15.63/unit) FOB by Oct. 7.
Western Cornbelt:
Limited UAN-32 pricing in the Western Cornbelt reportedly ranged from $475-$500/st ($14.84-$15.63/unit) FOB, depending on location and time of the week. “It’s a wild ride we are on right now; every day it seems to move higher,” said one regional contact.
Southern Plains:
The UAN-32 market was pegged at $465-$475/st ($14.53-$14.84/unit) FOB Oklahoma production points as the week began, but sources said the lower end was no longer on the table by midweek. Prompt pricing FOB Coffeyville, Kan., had reportedly firmed to $495-$500/st ($15.47-$15.63/unit) FOB late in the week.
UAN-32 pricing out of Houston and Gulf Coast terminals in Texas was quoted at the $480-$485/st ($15.00-$15.16/unit) FOB level for limited tons late in the week, with speculation that new offers could rise to as high as $535/st FOB for the next round.
South Central:
The last UAN-32 offers were pegged at $465-$475/st ($14.53-$14.84/unit) FOB South Central terminals, but most prices were reportedly pulled late the previous week.
Southeast:
UAN pricing in the Southeast was ratcheting up quickly. Sources quoted the UAN-30 market at $421/st ($14.03/unit) FOB Wilmington late the previous week, but new offers for UAN-32 had reportedly firmed to $505/st ($15.78/unit) FOB Wilmington or Norfolk, Va., by midweek. UAN-32 pricing out of inland Georgia terminals was pegged at the $446.50/st ($13.95/unit) FOB level for the last offers.
In the Northeast, UAN-32 offers FOB Fairless Hills were reported at the $495/st ($15.47/unit) level for October-November, while new pricing FOB Baltimore, Md., was expected to rise to $520/st ($16.25/unit) by the end of the week.
France:
UAN availability across Europe remained tight, with prices continuing to rise amid soaring gas costs. In France, UAN-30 was reported to be trading north of €575/mt FCA Rouen as the week drew to a close.