U.S. Gulf:
NOLA UAN barges remained at $545-$550/st ($17.03-$17.19/unit) FOB in late February.
Eastern Cornbelt:
The industry was awaiting the results of CF’s UAN tender, which closed on Feb. 22. Bids were to remain valid until Feb. 24, with customers expecting to be notified on that date whether bids were accepted or rejected. As the week concluded, however, there were reports from some industry sources that CF had extended the offer until Feb. 28 and was allowing earlier bids to be changed or cancelled. CF, however, did not confirm those adjusted terms.
The last confirmed prices for UAN-32 remained at $580-$600/st ($18.13-$18.75/unit) FOB for prompt and $605-$615/st ($18.91-$19.22/unit) FOB for prepay in the Eastern Cornbelt, depending on location, with the Ottawa, Ill., market pegged at the $610/st ($19.06/unit) FOB level. The most recent UAN-28 prices were pegged at $508-$512/st ($18.14-$18.29/unit) FOB Cincinnati for prompt tons and $537-$538/st ($19.18-$19.21/unit) FOB for spring prepay.
Western Cornbelt:
The last reported UAN-32 prices were unchanged at $590/st ($18.44/unit) FOB St. Louis for February-March tons and $605-$615/st ($18.91-$19.22/unit) for April-June, with the upper end of the regional market pegged at $600-$620/st ($18.75-$19.38/unit) FOB in Iowa and Nebraska, depending on location and time of shipment. Several sources described the market as “on hold” until the result of CF’s UAN tender are known.
Southern Plains:
The prompt UAN-32 market FOB Gulf Coast terminals was reported at $565-$570/st ($17.66-$17.81/unit) FOB, with March-April tons quoted at $585-$590/st ($18.28-$18.44/unit) FOB Dodge City, Kan. Sources reported no current offers from CF terminals while the company’s recent tender is concluded.
South Central:
Sources were awaiting news of CF’s UAN tender, which closed on Feb. 22. The last prices reported prior to the tender included Donaldsonville, La., tons at $550-$555/st ($17.19-$17.34/unit) FOB for February, $565/st ($17.66/unit) for March, and $585/st ($18.28/unit) for April-June, with the upper end of the regional market pegged at the $605/st ($18.91/unit) level in Kentucky for spring tons.
Southeast:
Sources reported no current UAN-32 offers at Wilmington during the week, but some tons were reportedly available at the $620/st ($19.38/unit) level FOB Chesapeake, Va. The low end of the regional UAN-32 market remained at the $540/st ($16.88/unit) FOB level out of spot inland terminals in the Georgia market.