U.S. Gulf:
NOLA potash barges remained flat at $670-$685/st FOB.
U.S. Imports:
July-September MOP imports softened 1.6 percent year-over-year, to 3.29 million st from 3.35 million st. September imports were down 13.9 percent, to 1.03 million st from the year-ago 1.19 million st.
Canada sent 2.82 million st during the July-September period, off 4.9 percent from the year-ago 2.96 million st. Russia’s 176,870 st was down 17.1 percent from the prior-year 213,251 st, while Belarus sent 174,035 st, a 26.4 percent increase from the year-ago 137,707 st.
Eastern Cornbelt:
The potash market was quoted at $710-$730/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged at $715-$725/st FOB amid “very snug” inventories. Sources said they expect Q1 offers in the $720-$750/st FOB range Michigan warehouses when the next round of pricing is announced.
Western Cornbelt:
Potash remained at $700-$730/st FOB in the region, depending on location, with the St. Louis market pegged in the $700-$720/st FOB range for the week.
Northern Plains:
Potash FOB St. Paul was quoted at $710-$735/st FOB during the week. The last prices FOB Saskatchewan mines were reported at $665-$710/st FOB after netbacks, depending on grade and destination.
Northeast:
Potash pricing edged up to a solid $750/st FOB in the Northeast for Q4, Q1, and Q2 offers.
Eastern Canada:
Potash prices had reportedly jumped to C$985/mt FOB Ontario warehouses for new offers, although sources said most of the last actual business was done at the C$840/mt level for Q4 shipment.
Brazil:
Sources said prices have tightened on growing concerns about the lineup of vessels waiting to unload their cargoes of MOP. Prices in Paranagua are reported at $800-$810/mt CFR. Sources said the demand remains steady for MOP, but getting the product off the vessels and to the inland distributors continues to remain a concern.
Rondonopolis showed a minor uptick in pricing to $950/mt FOB ex-warehouse.The barter rate remained steady at 112 bags of corn for 1 mt of MOP.
January-October MOP imports were up 12.6 percent, to 10.4 million mt from 9.2 million mt during the same period in 2020, according to Trade Data Monitor. The main suppliers were Canada at 3.4 million mt, Russia at 3 million mt, and Belarus at 1.96 million mt.
October imports were pegged at 1.4 million mt, up 38 percent from 1 million mt in October 2020. The top suppliers were Canada at 549,000 mt, Russia at 425,000 mt, Germany at 160,000 mt, and Belarus at 142,000 mt.