U.S. Gulf:
The NOLA UAN barge market is not currently being tested, as the inland markets are in a major drop. In light of inland trades, NOLA would be put in the $480-$520/st ($15.00-$16.25/unit) FOB range, if not lower, according to sources. At this point, most buyers will await news of a summer fill program before pulling the trigger.
U.S. Imports:
July-April UAN imports were noted at 1.54 million st, off 26.4% from the year-ago 2.10 million st. April imports were off 64.7%, falling to 81,026 st from the prior-year 229,393 st.
Despite no new import cargoes on record for March or April, Trinidad and Tobago continued to lead July-April imports with 542,614 st, off 31.6% from the year-ago 792,817. Russia followed with 497,169 st while registering no new U.S. imports in April. Canada added 383,372 st in the fertilizer year-to-date.
U.S. Exports:
April UAN exports moved 313.6% higher year-over-year, to 72,460 st from 17,520st. July-April totals were off 28.2%, however, to 436,668 st from 608,174 st one year earlier.
Eastern Cornbelt:
With urea falling, UAN-32 prices remained under pressure as well. The market was pegged at $570-$590/st ($17.81-$18.43/unit) FOB terminals in the Eastern Cornbelt, down another $10/st, with the low reported at Mount Vernon, Ind., and the upper end at Cincinnati. UAN-28 prices at Cincinnati were quoted at $515-$517/st ($18.39-$18.46/unit) FOB, down from the prior week’s $520/st ($18.57/unit) FOB level.
Western Cornbelt:
The UAN-32 market fell once again to $520-$575/st ($16.25-$17.97/unit) FOB in the Western Cornbelt, down from the previous week’s $555-$595/st ($17.34-$18.58/unit) FOB range, with the low reported at Port Neal, Iowa, and the high at St. Louis.
UAN-32 pricing also dropped in the Northern Plains, with the Winona and Pine Bend, Minn., markets falling to $595/st ($18.59/unit) FOB for new prompt business. In the Southern Plains, new offers were quoted at $530/st ($16.56/unit) FOB Woodward and Verdigris, Okla., down from $565/st ($17.66/unit) the week before.
California:
UAN-32 pricing in California remained at $680-$700/st ($21.25-$21.88/unit) FOB Stockton, but sources reported minimal sales and demand at mid-month. The last confirmed rail-DEL offers were $710-$722/st ($22.19-$22.56/unit) in the state, depending on location.
Pacific Northwest:
The UAN-32 market was pegged at $645-$655/st ($20.16-$20.47/unit) FOB terminals in the Pacific Northwest, down $5/st from last report, with the upper end reflecting the posted price FOB Kennewick, Wash. Delivered UAN-32 offers were quoted in the $620-$660/st ($19.38-$20.63/unit) range at mid-month.
Western Canada:
The most recent prompt offers for UAN-28 were pegged at C$590-$595/mt (C$21.07-$21.25/unit) DEL in Western Canada, reflecting a steep drop from the last C$760/mt level confirmed in late May.