US Gulf:
Sources said no loaded potash barges were available during the week, leaving the last confirmed business in the $370-$380/st FOB NOLA range, with the low confirmed for tons loading later in April. If prompt, loaded tons were available, sources said a seller could name his price. Bids at $390/st FOB were reported at midweek, with no offers.
“I haven’t been able to find a single loaded barge for sale this week,” said one industry contact. “Everyone is awaiting arrival of new material.”
US Imports:
February potash imports softened 5.6% compared to February 2022, slipping to 1.00 million st from 1.06 million st. Imports fell 15.1% st for July-February, to 7.61 million st from the year-ago 8.96 million st.
July-February imports from Canada totaled 6.59 million st, followed by 715,972 st from Russia. Israel shipped 250,511 st to the US during the period.
US Exports:
Potash exports for February moved 241.7% higher year-over-year, to 319,607 st from 93,528 st. July-February exports softened 11.4%, however, to 2.26 million st from 2.55 million st in the prior July-February.
Eastern Cornbelt:
Potash was reported at $435-$475/st FOB in the Eastern Cornbelt, up from last week’s $425-$440/st FOB, with the Cincinnati market pegged at $436-$465/st FOB during the week. “I am hearing potash is very hard to find on the river,” said one source at midweek.
Western Cornbelt:
Potash terminal prices firmed to $435-$470/st FOB in the Western Cornbelt, up $10-$15/st from last week, with the both the low and high reported at St. Louis as the week progressed.
California:
Potash was quoted at $615-$645/st FOB or DEL in California, depending on grade and location.
Pacific Northwest:
The potash market in the Pacific Northwest reverted to January fill pricing for new business, sources said, with the market quoted at $560/st FOB or DEL for 60% MOP and $570/st FOB for 62% MOP. The last postings FOB Moab and Wendover, Utah, included $505/st for 60% white standard and $515/st for 60% white granular.
Western Canada:
Potash pricing in Western Canada was reportedly slipping. New offers for truck tons at the mine in Saskatchewan were pegged in the C$680-$695/mt FOB range, depending on grade, down from the prior C$715-$735/mt FOB range.
Brazil:
Prices for potash came off slightly, to $400-$430/mt CFR. Excess supply in the country was reportedly exacerbated by April line-ups showing more tons coming in.
The general feeling inland is that potash reserves are abnormally high, putting pressure on prices. Even with this attitude, the price in Rondonopolis only shifted marginally to $540-$560/mt FOB ex-warehouse.
January-March potash imports totaled 2.4 million mt, Trade Data Monitor reported, down from the year-ago 2.5 million mt.
March imports were counted at 1.1 million mt, a 28% increase from the prior-year 880,000 mt. The market’s largest suppliers were Canada with 438,000 mt, followed by Russia with 359,000 mt.