Central Florida:
Central Florida truck-loaded DAP postings were unchanged at $500/st FOB. MAP trucks continued to be offered at $550/st FOB. The posted North Florida MAP price was steady at $625/st FOB.
US Gulf:
Sources described the NOLA phosphate market mostly at a standstill during the week, though DAP prices softened $5/st from the week-ago high. Offers were reported in the $530-$540/st FOB range, while buyers hoping to pick up tons in the $520s/st FOB were said to find no takers.
MAP prices lifted to $630-$640/st FOB from last week’s $625-$640/st FOB, with players noting limited trading volumes.
US Exports:
Export prices remained steady at $550/mt FOB. No new transactions were reported.
Eastern Cornbelt:
DAP prices rose to $585-$595/st FOB in the Eastern Cornbelt, up from last week’s $570-$590/st FOB range. MAP firmed to $685-$700/st FOB in the region, with the low confirmed at Cincinnati.
Western Cornbelt:
DAP prices in the Western Cornbelt moved to $580-$590/st FOB during the week, with the low confirmed at St. Louis. MAP remained at $675-$700/st FOB in the region, with the low at St. Louis and the high reported in the Iowa market.
Northern Plains:
Phosphate prices continued to climb in the Northern Plains. The latest levels FOB St. Paul were reported at $590/st FOB for DAP and $685/st FOB for MAP, up from the prior week’s $570-$580/st FOB range for DAP.
Great Lakes:
MAP was pegged at $690-$710/st FOB in the Great Lakes region for thin supply in late August. DAP was reported at $595-$605/st FOB in the region, up from $580-$600/st FOB at last report.
Northeast:
Phosphate prices firmed again in the Northeast. The latest offers were quoted at $605/st FOB for DAP and $695/st FOB for MAP at East Liverpool, up $30/st or more from early August. Delivered MAP pricing in Pennsylvania was reported at the $715/st level during the week.
Eastern Canada:
MAP remained at C$880-$925/mt FOB in Eastern Canada, with DAP reported at the C$825/mt level FOB Montreal.
China:
Sources put the netback from a recent $570-$575/mt CFR DAP sale to Pakistan at $545-$550/mt FOB, showing a steady increase in DAP prices. Producers are now said to be pushing for $555-$560/mt FOB.
January-July DAP exports totaled 2.9 million mt, Trade Data Monitor reported, a 79% year-over-year increase. July exports were pegged at 510,000 mt, up 56% from 336,000 mt in July 2022. India accounted for 66% of the July market, taking 339,000 mt.
MAP exports for January-July were flat from last year at 1.1 million mt. July exports moved up 20%, to 200,000 mt from 181,000 mt in July 2022. Brazil received 85,000 mt, followed by 54,000 mt to Argentina.
India:
The basis for DAP discussions remains at $558/mt CFR, sources said, the lowest offer level from the recent Rashtriya Chemicals and Fertilizers Ltd. (RCF) DAP tender. Noting that RCF has yet to make an award in the tender, traders saw price ideas for negotiations lifting to a “more rational” $570/mt CFR. So far, nothing has been done at that level.
January-June DAP imports totaled 3.1 million mt, according to Trade Data Monitor, rising 37% from 2.2 million mt received in first-half 2022. China led suppliers with 1.1 million mt, followed by Saudi Arabia with 1 million mt. Russia took 400,000 mt.
June imports of 811,000 mt firmed dramatically from the 168,000 mt purchased in June 2022. Second-quarter imports were also up year-over-year, lifting to 1.8 million mt from 847,000 mt.
Brazil:
MAP import prices moved up slightly, to $530/mt CFR from $520-$530/mt CFR at last report. While NPs were reportedly offered at a discount to MAP, buyers noted concerns about the product’s quality and time of delivery.
Rondonopolis MAP trades were quoted at $640-$660/mt FOB ex-warehouse for corn safrinha delivery, unchanged from last week. Indications for both prompt orders and delivery for the 2024/25 soybean season exceeded those levels, however.
Due to both low prompt availability and resistance from sellers to commit to prompt fulfillment, prices for the 2023/24 soybean planting season were indicated above $700/mt FOB ex-warehouse, while forward negotiations were noted at $675/mt FOB.