US Gulf:
NOLA barges were reported in the $380-$387/st FOB range for prompt trades, down from the week-ago $385-$395/st FOB. Buyers thought they could do better, citing a $375/st FOB barge for second-half March.
US Imports:
Potash imports softened 16.3% in July-December, falling to 5.78 million st from the prior-year 6.90 million st. Imports were down 16.8% in December, to 893,375 st from the year-ago 1.07 million st.
July-December imports from Canada totaled 4.97 million st, followed by 600,862 st from Russia and 167,370 st from Israel.
US Exports:
Potash exports were off 26.0% in July-December, to 1.63 million st from the year-ago 2.20 million st. December exports were clocked at 264,008 st, down 34.4% from 402,599 st logged one year earlier.
Eastern Cornbelt:
The Eastern Cornbelt potash market remained at $450-$470/st FOB, with Cincinnati pricing quoted at the $450-$465/st FOB level during the week.
Western Cornbelt:
The latest potash prices in Western Canada were pegged at C$715-$735/mt FOB Saskatchewan mines for February-March truck tons.
California:
Potash continued to range from $585-$615/st FOB in California, depending on grade and location.
Pacific Northwest:
The last confirmed potash business was reported at $560-$570/st FOB for fill tons. Post-fill pricing reportedly moved up $40/st, to $600-$610/st FOB, though these levels remain untested.
The last posted potash prices from Intrepid FOB Moab and Wendover, Utah, remained at $505/st for 60% white standard and $515/st for 60% white granular.
Western Canada:
The latest potash prices in Western Canada were pegged at C$715-$735/mt FOB Saskatchewan mines for February-March truck tons.
Brazil:
The potash price softened to $495-$510/mt CFR. Even with the recent steady decline in prices, sources said they expect to see a rebound for March and April material. High inventories and the presence of material from Belarus, combined with limited demand for February tonnage, are keeping prices from moving up.
Product from Belarus was quoted at $470/mt CFR. Plentiful reserves and an apparent lack of interest in Brazil have some traders looking at re-export possibilities.
The Rondonopolis price softened slightly to $610-$640/mt FOB ex-warehouse. Bids rumored at $570/mt FOB reportedly hoped to take advantage of the full stockpiles, but with no confirmed takers.
Trade Data Monitor reported January potash imports at 522,000 mt, down 27% from the year-ago 716,000 mt. Russia and Canada sent 174,000 mt each, followed by 67,000 mt from Belarus.