U.S. Gulf:
NOLA potash barge prices continued to move up, increasing to $650-$680/st from the week-ago $640-$675/st FOB.
Eastern Cornbelt:
The potash market was quoted at $715-$730/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati and reflecting a $5-$20/st increase from the previous week. In the Northeast, potash pricing FOB Fairless Hills jumped to $750/st FOB for Q4, up $30/st from last week.
Western Cornbelt:
Potash pricing was pegged at $700-$730/st FOB in the Western Cornbelt, up $10-$15/st at the top end of the range.
California:
Potash pricing remained at a firm $695-$705/st FOB for the last reported Q4 offers in California, with the low for 60 percent and the high for 62 percent MOP.
Pacific Northwest:
The potash market firmed to $662-$665/st FOB regional warehouses for Q4 shipment, but, as one source said, “They can post a price, but you can’t buy any.”
The last posted potash prices from Intrepid FOB Moab and Wendover, Utah, included $675/st for 60 percent white granular and $670/st for 60 percent white standard, but the company confirmed on Oct. 7 that it had pulled its most recent pricing offers for both potash and Trio while it assesses the changes in the market.
Western Canada:
Potash pricing in Western Canada was quoted at C$800/mt FOB Saskatchewan mines for Q4 truck shipment, up from the last reported range of C$755-$765/mt.
Russia:
January-August 2021 MOP exports were up 34 percent, to 7.8 million mt from 5.8 million mt during the same period last year, according to Trade Data Monitor (TDM). The main buyers of the Russian product so far this year were China at 1.9 million mt, up 65 percent from 2020; Brazil at 1.7 million mt, up 10 percent; and the U.S. at 809,000 mt, up 397 percent.
August 2021 exports were down 14 percent, to 725,000 mt from 839,000 mt in August 2020. Brazil showed a drop of 68 percent during the month, importing 90,000 mt. At the same time, China increased its monthly take from 113,000 mt in August 2020 to 330,000 mt in August 2021.
Russia’s potash exports to India were sharply lower in the Jan.-Aug. period this year compared with a year-ago. Exports fell 71 percent to 155,854 mt from 545,053 mt, according to TDM.
Notably, Russia made a single shipment since the new India contract price was established, first at $247/mt CFR with 180 days credit in late January (GM Jan. 29, p. 17), and then at $280/mt CFR in April (GM April 9, p. 17).
Russia exported 60,056 mt in April, its only export between February and August, no doubt reflecting the better netbacks that can be secured for sales elsewhere.
Brazil:
The MOP price at Paranagua held even at $780/mt CFR as more vessels with product arrive at their berths and begin to unload their cargo. Sources reported some sellers offering at $800-$830/mt CFR, but so far with no takers.
Inland prices softened a bit as MOP moved from the ports to local distributors. Sources now peg the market at $880-$938/mt FOB ex-warehouse.