US Gulf:
NOLA potash was reported at the $340-$345/st FOB level for new September-October business, up from last week’s $330-$335/st FOB range.
Eastern Cornbelt:
Potash was unchanged at $385-$400/st FOB in the Eastern Cornbelt, with the high out of inland warehouses and the low reported at Cincinnati and other river terminals.
Western Cornbelt:
Potash remained at $370-$390/st FOB in the Western Cornbelt, with low confirmed at St. Louis. The Caruthersville market was reported at the $385/st FOB level in mid-September.
Southern Plains:
Potash was steady at $380-$390/st FOB Catoosa/Inola and $385/st FOB Houston for the latest business. The last postings from Intrepid FOB Carlsbad, N.M., included $445/st for 60% white granular and $453/st for 62% white standard.
South Central:
Potash was pegged at $380-$390/st FOB in the South Central region in mid-September.
Southeast:
Potash was up slightly at $360-$370/st FOB port terminals in the Southeast, with reports of rail-DEL Canadian tons holding at the $385-$390/st level.
China:
January-August potash imports to China totaled 7.1 million mt, Trade Data Monitor reported, a 28% increase from the year-ago 5.6 million mt. Belarus sent 2.5 million mt, a significant jump from the 1.4 million mt received from Belarus during the first eight months of 2022. August imports were reported at 842,000 mt, up 10% from the 766,000 mt reported for August 2022.
Brazil:
The landed price of potash at Brazil declined to $340-$360/mt CFR, falling $10/mt at the bottom of the range. Players reported wide availability of sanctioned product, while some suppliers are offering product priced on a formula basis.
Potash prices have started to weaken in Rondonopolis. The traded range softened to $485-$495/mt FOB ex-warehouse, off from $485-$500/mt FOB at last report, while offers above $500/mt FOB ex-warehouse failed to transact. In a change from the prior week, sources reported offers for the 2024/25 soybean crop falling below the $500/mt FOB ex-warehouse mark.