Central Florida:
DAP trucks loading from Central Florida were posted at $500/st FOB, unchanged from last report. Truck-loaded MAP continued at $550/st FOB. Players reported an increase in North Florida MAP, to $625/st FOB from the week-ago $600/st FOB.
US Gulf:
NOLA DAP barges climbed to $525-$545/st FOB from the week-ago $500-$515/st FOB, with the low side of the range reported trading early in the week. MAP barges began the week at $600/st FOB before lifting as high as $640/st FOB, sources said, a rise from $580-$600/st FOB reported previously.
US Imports:
DAP imports for June firmed 109.1% year-over-year, to 121,239 st from 57,984 st. Imports totaled 995,214 st for July-June, however, falling 4.8% from 1.05 million st in the year-ago period. July-June imports from Saudi Arabia stood at 611,627 st, while material shipped from Australia totaled 135,595 st. Tunisia added 74,957 st.
MAP/Other imports for July-June lifted 17.9%, to 968,913 st from the year-ago 821,800 st. June imports rose 262.1%, to 180,790 st from the prior-year 49,931 st. Exports originating from Russia totaled 390,869 st in July-June, beating both 241,582 st from Saudi Arabia and 143,747 st from Australia. Mexico sent 130,821 st.
US Exports:
Export prices moved up to $520/mt FOB on reports of limited third-quarter availability and small-volume sales.
DAP exports moved up 250.9% in June, to 117,955 st from 33,614 st in June 2022. July-June exports firmed 18.5%, to 808,227 st from the year-ago 682,259 st. The US sent 208,537 st of DAP to India in the July-June period, ahead of both 104,951 st to Peru and 96,843 st to Uruguay. Mexico bought 79,948 st of US product.
June MAP/Other exports moved 67.4% lower, to 91,373 st from 280,660 st in June 2022. July-June totals were down 11.8% year-over-year, sinking to 2.15 million st from 2.43 million st. MAP/Other exports to Canada totaled 1.46 million st in July-June, ahead of 242,831 st to Brazil and 110,882 st to Australia.
Eastern Cornbelt:
Phosphate prices continued to strengthen, fueled by firming NOLA barge prices and reports of tight supply. DAP jumped to $570-$580/st FOB in the Eastern Cornbelt, up from last week’s $535-$560/st range, with both the high and low confirmed in Cincinnati during the week.
MAP pricing was quoted at $665-$680/st FOB in the region, up from the prior $635-$645/st FOB, with the upper end of the range reported at Cincinnati.
Western Cornbelt:
DAP prices moved up to $560-$580/st FOB during the week, $20/st higher than the prior week, with the low confirmed at Caruthersville, Mo. The St. Louis DAP market was pegged firmly at the $570-$575/st FOB range, up from last week’s $540-$555/st range.
MAP pricing strengthened to $665-$680/st FOB in the Western Cornbelt, up from $630-$650/st FOB the week before, with the St. Louis market quoted at $670-$675/st FOB.
Southern Plains:
DAP and MAP pricing continued to climb in the Southern Plains, with sources talking of tight supply that “will hit this fall.”
DAP firmed to $575-$590/st FOB Catoosa/Inola and $600/st FOB Houston during the week, up from the prior week’s $530-$560/st FOB range. MAP was pegged at $670-$690/st FOB Catoosa/Inola and $650/st FOB Houston, up from last week’s $630-$640/st FOB.
South Central:
DAP prices in the South Central region bumped up to $560-$580/st FOB, from last week’s low of $540/st FOB.
Southeast:
MAP postings from Nutrien were up $25/st, to $625/st FOB Aurora, N.C., and White Springs, Fla.
China:
A number of small, container-sized deals were concluded at $480-$500/mt FOB, sources said. Near the end of the week, players reported a deal into India at $540/mt CFR, showing a netback of $515-$520/mt FOB. The higher price was expected to be reflected in a Bangladesh DAP tender, once numbers there are released.
India:
Sources reported a DAP sale from China at $540/mt CFR. Sources said this matched up with a reported deal with OCP/Morocco to supply 100,000 mt of DAP in September at $490-$525/mt CFR.
The rising price of imported DAP has provided an incentive for domestic producers to step up their operations. Unfortunately, said one trader, recent typhoons have caused some damage to production facilities.
Brazil:
MAP increased slightly to $500-$520/mt CFR, as market players reported production issues in the Arab Gulf constraining supply and tightening the market. The bottom of the range transacted earlier in the week, while prices chased liquidity higher as the week wore on. New offers were expected around $530/mt CFR.
Citing both low prompt availability and limited seasonal demand in the region, the Rondonopolis MAP range widened to $630-$650/mt FOB ex-warehouse.
January-July MAP imports fell 4% year-over-year, Trade Data Monitor reported, to 2.8 million mt from the 2.7 million mt in 2022. Imports were counted at 518,000 mt for July, down 10% from the prior-year 579,000 mt. Russia sent 246,000 mt in July, while Saudi Arabia added 218,000 mt.