US Gulf:
NOLA potash was reported in a broad range at $330-$345/st FOB for confirmed November business, with the low reported for import tons and reflecting a $5/st decline from last week’s low. Second-half December business was confirmed at the $340/st FOB level during the week.
US Imports:
Potash imports for September firmed 23.0% year-over-year, to 1.14 million st from 927,518 st. Imports totaled 3.07 million st for July-September, up 8.7% from 2.82 million st in the year-ago period.
Imports from Canada were reported at 2.64 million st in July-September, while Russia sent 293,011 st, and Israel added 93,062 st.
US Exports:
Potash exports fell 34.7% in July-September, to 651,068 st from the year-ago 996,608 st. September cargoes were counted at 191,753 st, a 55.0% decrease from 425,859 st reported one year earlier.
US exports to Brazil totaled 185,814 st for the fertilizer year-to-date, followed by 115,716 st to Malaysia and 94,363 st to China.
Potash was reported at $395-$415/st FOB in the Eastern Cornbelt, with the low confirmed at Ottawa and LaSalle for November-December tons. The Cincinnati market was quoted in the $405-$415/st FOB range at mid-month.
Potash pricing in Michigan was pegged at $410-$428/st FOB, depending on grade and location.
Potash continued to be quoted in the $390-$415/st FOB range in the Western Cornbelt, with the St. Louis market reported at $390-$405/st FOB.
Northern Plains:
Potash strengthened to $400-$410/st FOB St. Paul, with delivered tons reported at the $400/st level in the region for 4Q shipment. The latest prices FOB Saskatchewan mines edged up to $377-$384/st FOB, depending on grade.
Northeast:
Potash remained at a broad $370-$420/st FOB range in the Northeast, with the low reported at Fairless Hills and high at East Liverpool. Delivered potash was pegged at the $386/st level in central Pennsylvania in mid-November.
Eastern Canada:
The potash market in Eastern Canada was unchanged at C$615/mt FOB regional warehouses in mid-November.
Brazil:
Potash prices pulled back to $320-$340/mt CFR, off from last week’s $330-$345/mt CFR, with product from sanctioned origins priced at the bottom of the range. Rondonópolis prices weakened to $465-$470/mt FOB ex-warehouse, with rumors of lower prices remaining unconfirmed for the week.