US Gulf:
New NOLA potash trades were reported in the $320-$325/st FOB range for December-January business, unchanged from last week.
US Imports:
October potash imports firmed 35.0%, to 1.13 million st from the year-ago 835,777 st. Imports totaled 4.20 million st in July-October, up 14.7% from 3.66 million st in the prior year. Imports from Canada were reported at 3.69 million st in July-October, while Russia sent 343,938 st and Israel added 124,176 st.
US Exports:
October potash exports were reported at 239,637 st, a 3.4% increase on the year-ago 231,852 st. July-October volumes were down 27.5%, however, at 890,705 st compared with 1.23 million st one year earlier. Exports to Brazil totaled 208,162 st for the fertilizer year-to-date, followed by 198,871 st to China and 170,832 st to Malaysia.
Potash slipped to $390-$415/st FOB in the Eastern Cornbelt, down from last week’s $400-$420/st FOB range, with the higher numbers for prompt tons and the low for January shipment. The Cincinnati market was pegged at $405-$410/st FOB, down $5/st from the prior week.
In the Great Lakes region, the latest potash prices were quoted at $420/st FOB and $435/st DEL.
Potash dropped to $375-$400/st FOB in the Western Cornbelt, depending on location, down from last week’s $400-$420/st FOB range, with the St. Louis market pegged at $375-$385/st FOB for the latest offers from some suppliers.
Southern Plains:
Potash slipped to $380-$400/st FOB Catoosa/Inola for prompt and forward offers, down from the prior $400-$410/st FOB range. The latest postings from Intrepid FOB Carlsbad, N.M., included $445/st for 60% white granular and $453/st for 62% white standard.
South Central:
Potash fell to $385-$400/st FOB warehouses in the South Central region, down from the prior $390-$415/st FOB range, with the low reported at Memphis and the high out of river terminals in Arkansas. Kentucky sources reported prompt offers at the $390/st level FOB Ohio River terminals at mid-month.
Southeast:
Potash dropped to $350-$370/st FOB port terminals in the Southeast, below the prior $360/st FOB low, with reports of rail-DEL Canadian tons at the $385-$390/st level.
Brazil:
Potash imports softened nearly 4% during the week, to $305-$315/mt CFR from $315-$330/mt CFR at last report, with product from sanctioned origins priced at the bottom of the range. While the market has been active, supply has reportedly outpaced demand, pressuring prices lower.
Prices continued to weaken at Rondonópolis, with offers concentrated in the $440-$450/mt FOB ex-warehouse range. Recent declines in the CFR market have raised expectations that even bigger discounts could be on the way at Rondonópolis.