U.S. Gulf:
The potash barge market was quoted at $675-$685/st FOB, edging down from the week-ago $680-$690/st FOB range.
Eastern Cornbelt:
The potash market was quoted at $720-$730/st FOB in the Eastern Cornbelt, with Q1 rail-DEL offers reported in the same range. Some sources talked of spring pricing offers at the $740/st FOB level on a spot basis, but that price was not confirmed.
Western Cornbelt:
Potash remained at $710-$725/st FOB and $715-$730/st rail-DEL in the Western Cornbelt, with the low reported at St. Louis in early December. The Caruthersville market was quoted at $725/st FOB for new offers.
Southern Plains:
Potash pricing was pegged at $730/st FOB Catoosa/Inola and $730-$745/st FOB Houston. The last postings from Intrepid FOB Carlsbad, N.M., included $675/st FOB for 60 percent white granular and $695/st FOB for 62 percent white standard.
South Central:
The potash market remained at $725-$745/st FOB in the South Central region, with the lower end of the range confirmed out of Arkansas terminals and the high at Memphis. Pricing FOB Shreveport was pegged at the $730/st FOB level in early December.
Southeast:
Potash pricing was quoted at $750/st FOB Wilmington for the last Q4 business and for Q1 tons, with reports of Q1 rail-DEL offers in the $738-$750/st range from Canadian suppliers.
Brazil:
Buying was limited as end users pushed back against higher prices. The price at the ports is now pegged at $790-$830/mt CFR. This represents a tightening of the price range with a downward edge.
Even as buyers argued against higher prices, everyone was wary of the impact the U.S. sanctions against Belarus might have on prices and availability. The sanctions against Belarusian Potash Company will go into full effect on April 1, 2022.
The U.S. government has given traders until they to untangle themselves from trader agreements. Reportedly there might be some possibility to engage in barter arrangements similar to the deals that brings in Iranian urea in exchange for Brazilian corn and soybeans.
Rondonopolis reported prices down to $890-$932/mt FOB ex-warehouse.
January-November MOP imports were reported by Trade Data Monitor at 11.8 million mt, up 14.5 percent from 10.3 million mt during the same period in 2020. Belarus was responsible for 2.2 million mt so far this year, representing about 19 percent of MOP imports. Only Canada with 3.8 million mt and Russia with 3.5 million mt topped Belarus so far this year.
November imports were up about 30 percent, to 1.4 million mt from 1.1 million mt in November 2020.