Central Florida:
Central Florida DAP trucks remained posted at $945/st FOB for the week, steady from the prior report. Truck-loaded MAP was noted even with DAP at $945/st FOB, also unchanged from one week earlier.
MAP trucks originating from North Florida were reported softening to $940/st FOB, down from $950/st FOB posted previously.
U.S. Gulf:
A quiet week on the NOLA barge phosphate market resulted in DAP and MAP values rolling over from week-ago levels.
DAP barge offers were noted at $830-$855/st FOB, within the prior $820-$860/st FOB range, although with no trades reported. MAP offers were heard pressing higher, with players reporting that $890-$900/st FOB asks were met with minimal or nonexistent bids.
With minimal trading reported for the week, DAP barges continued to be called $820-$860/st FOB, unmoved from the previous report. Negligible MAP business saw prices rolling over from the prior-week $850-$895/st FOB.
U.S. Exports:
Gulf export phosphate sellers quoted current market indications in the $1,080-$1,100/mt FOB range, declining from the previous $1,240/mt FOB.
Eastern Cornbelt:
DAP pricing in the Eastern Cornbelt covered a very wide range at mid-month. Terminal offers reportedly fell to as low as $900/st FOB for DAP in southern Illinois and southern Indiana, while the Cincinnati market remained at $960-$975/st FOB. DAP pricing at Ottawa was confirmed at the $925/st FOB level at midweek.
MAP pricing ranged broadly at $915-$975/st FOB in the region, with the upper end once again confirmed at Cincinnati. The Ottawa MAP price was pegged at the $935/st FOB level.
Western Cornbelt:
DAP pricing was reported in a wide $890-$960/st FOB range in the Western Cornbelt, with the low confirmed at St. Louis and reflecting a significant drop from last week’s $930-$945/st FOB range. MAP was pegged at $915-$960/st FOB in the region, with the low again reported at St. Louis.
Southern Plains:
DAP prices reportedly slipped to $900-$930/st FOB Catoosa/Inola and $945/st FOB Houston, down $15-$20/st from the last confirmed levels. MAP was reported at $920-$945/st FOB Catoosa/Inola and $955/st FOB Houston at mid-month.
South Central:
DAP prices were quoted in a broad range at $915-$965/st FOB in the South Central region, with the low reported at Shreveport and the high in Arkansas. The Memphis market was pegged at $955-$960/st FOB during the week.
Southeast:
Nutrien lowered its DAP posting to $890/st FOB Aurora, N.C., with MAP referenced at $940/st FOB Aurora and White Springs, Fla., down from the last posting of $950/st FOB for DAP and MAP at both locations.
China:
Sources said the price for DAP is holding around $1,000/mt FOB. Bids are coming in lower, but there is enough demand, said traders, to allow producers to push back against any decline in pricing.
Customs officials are allowing DAP to be exported, but not in numbers previously seen. A few extra cargoes may become available as the domestic season winds down and as government officials see domestic demand wane.
India:
The high price of phos acid continues to make it more viable to import DAP rather than to produce it in domestic plants.
Sources reported some Russian DAP has made it into India at $920-$930/mt CFR. No details were provided on how the cargoes arrived or when they were booked. Traders did comment that the price represents a dramatic discount from the current going rate for DAP.The last reported business of non-Russian DAP was put at $1,030/mt CFR.
There are also reports that some cargoes from Jordan and Saudi Arabia are being booked under government-to-government deals. The prices for these deals are being kept under wraps, as is the norm.
Brazil:
The increased presence of MAP from Morocco, Russia, and China is causing prices to dip. Sources put the imported price at $1,120-$1,220/mt CFR. Rumors that more Chinese MAP might soon be available is expected to keep a downward pressure on prices.
Sources noted that OCP/Morocco had been holding to a higher price, creating an ever-widening price range. However, as more Chinese material began arriving, sources said OCP dropped its prices to remain competitive.
Rondonópolis prices also dropped. Sources put the inland market price at $1,270-$1,290/mt FOB ex-warehouse, down from the last reported upper range of $1,400/mt FOB. Sources said the drop came as Moroccan MAP began arriving at local distributors.