Central Florida:
DAP trucks loading from Central Florida shifted lower during the week, with posted prices moving to $700/st FOB, off from the prior $770/st FOB. Sources reported truck-loaded MAP softening to $710/st FOB from the prior $790/st FOB.
North Florida MAP trucks were quoted at $750/st FOB, falling from $820/st FOB at last report.
US Gulf:
Players noted a hint of stability creeping into the NOLA DAP and MAP markets for the week, with DAP values holding steady while MAP prices slid at the low end of the range.
After being reported as sold out for most of November and first-half December loading, domestically-produced DAP barges were reported trading at $640/st FOB for full-December loading, even with the week-ago high. Players noted bidding at $625/st FOB during the week, below the week-ago $635/st FOB floor, although no trades were confirmed at that level on Dec. 1. Offers were heard lifting to $645/st FOB for the week, with no trades reported.
Domestic DAP barges shipping in January and February were quoted at $640/st FOB.
Domestically-produced MAP barges were reported changing hands at the week-ago high of $640/st FOB, while nearby lows were typically seen in the $625-$630/st FOB range. Offers of imported material rumored at $620/st FOB for December loading went unconfirmed on Dec. 1.
The nearby NOLA DAP market continued at a $635-$640/st FOB, unchanged from one week earlier. MAP barges loading from NOLA were pegged at $625-$640/st FOB for nearby release, below last week’s $630-$640/st FOB range.
US Exports:
No new business was reported in the US Gulf phosphate export market. Recent reported trading included a 25,000 mt DAP cargo sold into northern Latin America. Priced at $692/mt FOB, the tons were expected to load in December.
With no new trading reported, the export markets continued to be reported at $692/mt FOB, steady from week-ago levels.
Eastern Cornbelt:
DAP was steady at $795-$810/st FOB in the Eastern Cornbelt, with the Cincinnati market reported at $800-$810/st FOB. MAP pricing was quoted at $800-$820/st FOB in the region, with both the high and low confirmed at Cincinnati.
In the Southeast, Nutrien confirmed that its MAP postings dropped on Nov. 28 to $750/st FOB Aurora, N.C., and White Springs, Fla., down from the previous $820/st FOB level. DAP is currently unavailable at Aurora.
Western Cornbelt:
DAP was quoted at $790-$805/st FOB in the Western Cornbelt. MAP remained at a discount to DAP, with the market reported at $780-$810/st FOB, depending on location. St. Louis pricing was pegged at $790-$800/st FOB for DAP and $780-$785/st FOB for MAP.
California:
MAP pricing in California was quoted at $835/st FOB or DEL for new offers, down significantly from the last reported $900/st level.
Pacific Northwest:
MAP pricing in the Pacific Northwest was confirmed at $815/st FOB or DEL, up from some recent 1Q business at the $800/st level, but down sharply from the last prompt postings at $870-$890/st FOB or DEL earlier in November.
Western Canada:
MAP prices also softened in Western Canada. New delivered pricing was confirmed at C$1,140-$1,180/mt in the region, down significantly from the prior C$1,270-$1,280/mt DEL range. The FOB warehouse market was pegged at C$1,165-$1,200/mt for December-January tons, below the previous C$1,220-$1,260/mt FOB range.
China:
Sources said the price of DAP remains at $720/mt FOB, based on earlier sales into India. The main focus on exports seems to be covering contracted tons and not seeking out any spot deals.
India:
Sources reported that about 100,000 mt of DAP and MAP have been booked for delivery into India. The DAP prices are reportedly $735/mt CFR for Russian product and $750/mt CFR for Chinese DAP. Reportedly, Russian MAP was sold at $640/mt CFR.
Concern about DAP levels in the country were addressed by government officials in speeches and media interviews. The officials assured farmers and local distributors that there are sufficient quantities of DAP to cover needs into January. After January, they said, additional purchases will be made to build reserves for the next application season.
Brazil:
Buyers of MAP began testing the market, moving the price up to $600-$630/mt CFR. Sources said the lower end of the range is for material already offloaded from vessels and ready for shipment to local distributors. The upper end of the range is reportedly for the replacement tons either on vessels waiting to dock or cargoes on their way to Brazil.
Sources said sellers are trying to move up the price because they see the Brazil buyers enjoying a discount compared to other global markets.
The price of MAP in Rondonopolis widened to $740-$780/mt FOB ex-warehouse.
Argentina:
Imports of MAP for January-October were reported at 749,000 mt by Trade Data Monitor, down about 13% from the 865,000 mt imported during the same period in 2021. The main suppliers were Morocco with 319,000 mt, the US with 191,000 mt, and China with 181,000 mt.
October 2022 imports were reported at 144,000 mt, down from the 158,000 mt imported during October 23021. Morocco accounted for 51% of the imports with 41,000 mt. China took 26% of the import market with 37,000 mt, followed by the US with 33,000 mt for 23% of the imports.