US Gulf:
Although no new business was reported, sources said NOLA UAN indications were lower following CF’s announcement of a $20/st drop in inland terminal prices for December-January. Sources pegged the NOLA barge market at $240-$250/st ($7.50-$7.81/unit) FOB based on netbacks, down from the long-standing $255-$265/st FOB range.
Eastern Cornbelt:
Following a $20/st drop in UAN-32 postings from CF, the latest offers for December-January tons were quoted at $275-$290/st ($8.59-$9.06/unit) FOB in the Eastern Cornbelt, down from the prior $295-$310/st level, with the low confirmed at Mount Vernon, Ind. Sources quoted the Cincinnati UAN-32 price at $280/st ($8.75/unit) FOB after the drop.
“I think you might even buy lower with an offer on tons for January ship only on this pricing,” speculated one regional contact.
Western Cornbelt:
UAN-32 prices were down $20/st from last week following a reset by CF. New levels were quoted at $275-$295/st ($8.59-$9.22/unit) FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis for December-January tons. The Port Neal, Iowa, market was pegged at the $280/st ($8.75/unit) FOB level.
The last UAN-32 prices in the Southern Plains included $255/st ($7.97/unit) FOB Verdigris, Okla., and $260/st ($8.13/unit) FOB Woodward, Okla.
Northern Plains:
The latest UAN-32 offers were quoted at $295-$310/st ($9.22-$9.69/unit) FOB terminals in Minnesota, down $10-$20/st from last report. UAN-28 was pegged at $300-$330/st ($10.71-$11.79/unit) DEL in the Northern Plains for tons shipped from Canada, below the $325-$335/st DEL range reported in mid-November.
Northeast:
The UAN-32 market in the Northeast remained at $265/st ($8.28/unit) FOB Fairless Hills and Baltimore, Md., for December and 1Q tons. UAN-32 out of terminals in upstate New York dropped to $320/st (10.00/unit) FOB for the latest offers, however, down from $340/st ($10.63/unit) FOB in mid-November.
Eastern Canada:
Recent UAN offers in Eastern Canada were reported at C$560/mt ($17.50/unit) FOB for UAN-32 and C$460-$490/mt (C$16.43-$17.50/unit) FOB for UAN-28, up from the prior C$535/mt and C$460-$469/mt FOB ranges, respectively.