Central Florida:
Central Florida DAP trucks were posted at $640/st FOB for the week, unmoved from the prior report. Truck-loaded MAP ran $10/st below DAP at $630/st FOB, also steady from one week earlier.
MAP truck postings from North Florida softened to $600/mt FOB, players said, down $50/st from the week-ago $650/st FOB.
US Gulf:
Players noted falling prices in the NOLA DAP barge market, while MAP barges held their value.
DAP barges were reported at a $440-$445/st FOB low for June and July loading, softening from the week-ago $449.50/st FOB floor. The values were attached to imported material believed to be of Saudi Arabian origin. Price ideas for non-import tons were heard closer to $450/st FOB, although no transactions were reported concluding at that level.
Sources put DAP bids at $420-$435/st FOB on June 14-15, while June DAP paper values were indicated in a $450-$470/st FOB range. Paper trading was noted at $410-$435/st FOB for September.
MAP prices were quoted at a $450/st FOB floor for imported tons, unchanged from last report, while domestic MAP changed hands at $470/st FOB early in the June 9-15 trading week, even with the week-ago top.
The NOLA DAP barge market was reported at $440-$445/st FOB, falling from $449.50-$462/st FOB in the prior report. Players quoted MAP barges in a $450-$470/st FOB range, unchanged from one week earlier.
US Exports:
Nothing new was reported on the US Gulf DAP and MAP export markets, leaving prices at the prior $520/mt FOB level.
Eastern Cornbelt:
DAP dropped to $540-$580/st FOB in the Eastern Cornbelt, down sharply from last week’s broad $580-$655/st range, with the low confirmed out of Ohio River terminals on a spot basis. MAP fell in the $550-$590/st FOB range in the region.
The Cincinnati DAP and MAP markets were both quoted at the $550/st FOB level late in the week, with rumors of DAP fill offers circulating in the low-$500s/st FOB for July-August shipment.
In the Northeast, the latest DAP offers at Fairless Hills were confirmed at the $650/st FOB level. In the Southeast, Nutrien reportedly dropped its MAP posting to $600/st FOB Aurora, N.C., and White Spring, Fla., down from the previous $650/st FOB posting.
Western Cornbelt:
DAP dropped to $560-$580/st FOB in the Western Cornbelt, with the low confirmed at St. Louis. MAP was pegged at $570-$590/st FOB in the region, with the St. Louis price reported at the upper end of the range for limited tons. Sources said lower July-August fill levels were being thrown around as well, but with no confirmed levels or sales.
California:
The California MAP market was steady at $780-$800/st FOB/DEL.
Pacific Northwest:
MAP remained at $760-$780/st FOB or DEL in the Pacific Northwest in mid-June.
Western Canada:
The MAP market in Western Canada was quoted at C$850-$860/mt FOB for June offers following a post-spring reset, down significantly from the prior C$1,150-$1,200/mt FOB level.
“Offers seem to be slow on summer fill, with the system empty and producers willing to play it slow,” commented one regional source.
China:
Sources reported that June and first-half July DAP cargoes are sold out. Talks for any new business are now said to be centered on late July. The price has reportedly tightened to $465-$470/mt FOB on limited trading.
Brazil:
MAP prices at Brazilian ports tightened to $440-$450/mt CFR. Sources pointed to a 1.5 million mt excess of MAP relative to last year as one reason for the cooling market. There were reports of a deal as low as $430/mt CFR, but sources could confirm neither the buyer nor seller.
The price of MAP came off in Rondonopolis, to $575-$600/mt FOB ex-warehouse. Stronger demand is expected in the north-central region of the country in anticipation of the 2024-2025 season. Some larger cooperatives are anticipated to step in with aggressive purchasing ideas.