Central Florida:
Central Florida DAP was posted at $630/st FOB, sources said, steady from last week, while MAP trucks continued at $655/st FOB. North Florida MAP offers were stable at $650/st FOB.
US Gulf:
NOLA DAP barges were priced at $578-$585/st FOB, players said, narrowing from the week-ago $575-$590/st FOB, while local product indicated at $600/st FOB was not reported to transact. Sources pegged NOLA MAP business at $600-$620/st FOB, off $10/st from the prior week’s high, with full-March trades noted at the bottom of the range.
US Exports:
DAP and MAP exports from the US Gulf were steady at $570/mt FOB for the last reported deals.
Eastern Cornbelt:
DAP was quoted at $635-$655/st FOB in the Eastern Cornbelt, with the low reported out of spot Illinois River terminals and the high on the Ohio River. MAP slipped to $670-$690/st FOB in the region, with the low again confirmed on the Illinois River. The Cincinnati market was pegged at $650-$655/st FOB for DAP and $675-$685/st FOB for MAP in early February.
Recent offers in the Great Lakes region included MAP at $720-$730/st FOB Michigan warehouses and DAP at $685/st FOB or DEL.
DAP remained at $635-$650/st FOB and MAP at $660-$690/st FOB in the Western Cornbelt, with the lower end of both ranges confirmed at St. Louis and the high in Iowa.
California:
MAP was pegged at a solid $760-$765/st FOB or DEL level in California.
Pacific Northwest:
MAP was unchanged at $745-$755/st FOB or DEL in the Pacific Northwest, with the low reported in Idaho.
Western Canada:
MAP was strengthening in Western Canada, with the latest offers reported at C$1,110-$1,120/mt FOB and C$1,120-$1,130/mt DEL, up from C$1,080-$1,085/mt FOB or DEL at last report.
Benelux:
Protests by farmers erupted in both Eastern and Western Europe last week, with some delays reported in fertilizer movement, particularly at Belgian ports.
The Benelux DAP price increased to €585-€595/mt FCA terminal, equivalent to $630-$640/mt FCA, up from the prior $620-$625/mt range. Offers increased again as the week progressed, to €605-€610/mt FCA on reports of limited Baltic spot availability, with both Russian and Lithuanian suppliers reportedly targeting further increases in Western Europe.
Morocco:
Moroccan DAP prices were reported at $550-$610/mt FOB, with the low end based on netbacks from sales into India and the high reflecting business into Western Europe. OCP is understood to be targeting above $600/mt FOB for any new business into Europe, with further increases possible if the recent logistics issues stemming from farmer protests continue.
China:
Earlier excitement surrounding the rumored release of DAP and MAP exports in early- to mid-March has faded. Sources now think the market may have to wait until late March or even early April for exports to resume.
Even with no exports allowed, sources have calculated the potential price of DAP from China should tons be permitted to ship. The market has remained strong, leading traders to predict prices in the $575-$580/mt FOB range. This price fits with the $595/mt CFR paid by India to OCP last week.
Any discussions with phosphate producers are now on hold. Most offices in China began closing on Feb. 8 for the weeklong Lunar New Year celebration.
India:
No new deals were reported in India. The price remains at $595/mt CFR.
Brazil:
MAP imports continued at $550-$560/mt CFR. While inland demand for the 2024/25 soybean season has remained muted due to low commodities prices, some regions are reducing prices in an effort to reignite buyer interest.
MAP prices were stable in the $670-$690/mt FOB ex-warehouse range at Rondonópolis, with current demand driven by the soybean planting season. MAP indications varied widely across the region, however. Rumored one-off deals were heard below $670/mt FOB, while some players reportedly offered product above $700/mt FOB. Neither extreme was confirmed, however.
Trade Data Monitor reported January MAP imports falling 63% year-over-year, to 144,000 mt from 388,000 mt. First-quarter MAP imports are historically low in Brazil, though deliveries typically pick up in April.