U.S. Gulf:
The NOLA potash barge market tightened to $750-$770/st FOB from the week-ago $740-$795/st FOB range.
Eastern Cornbelt:
Potash pricing was reported at $770-$785/st FOB in the Eastern Cornbelt, reflecting another $10-$15/st decline, with the low confirmed at Cincinnati and Ottawa as the week advanced. Potash prices in the Great Lakes region were commonly reported at the $790/st FOB level for red granular tons in early June.
Western Cornbelt:
Potash pricing slipped to $770-$785/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis.
Northern Plains:
Sources quoted potash pricing at $780-$795/st FOB St. Paul in early June. The latest prices FOB Saskatchewan mines for 2Q tons were reported at $728-$740/st after netbacks, depending on grade and destination.
Northeast:
Potash prices were also under pressure in the Northeast. New warehouse levels were confirmed in the $795-$805/st FOB range, with the low in Pennsylvania and the high at East Liverpool.
Eastern Canada:
The potash market in Eastern Canada was pegged at C$1,050-$1,056/mt FOB warehouses, essentially unchanged from mid-May levels.
Brazil:
Prices for MOP in Brazil dipped marginally to $1,100-$1,200/mt CFR.
Buyers were encouraged by reports that the U.S. was notifying shippers and insurance companies that moving Russian fertilizers would not violate the sanctions against that country. The move reportedly opened a window of opportunity for buyers to book numerous cargoes.
The Rondonópolis market softened a bit to $1,160-$1,250/mt FOB ex-warehouse. Supplies are said to be sufficient, but tight.
Thailand:
January-April 2022 imports of MOP were reported at 253,000 mt by Trade Data Monitor. This is down 11% from the 283,000 mt imported during the same period last year.
April 2022 imports were reported at 83,000 mt, up 18% from the 71,000 mt bought in April 2021. Canada was responsible for about half of the April imports at 41,000 mt. Russia accounted for another quarter of the imports at 20,000 mt.