US Gulf:
The NOLA potash barge market remained at $310-$315/st FOB for the latest trades, unchanged from last week.
Potash dropped to $365-$375/st FOB in the Eastern Cornbelt, depending on location, with the low reported at Cincinnati. In the Great Lakes region, potash pricing in Michigan slipped to $385-$395/st FOB and $410/st DEL in early April.
Western Cornbelt:
Potash reportedly fell to $355-$375/st FOB in the Western Cornbelt, down another $5-$10/st, with the low confirmed at St. Louis. Rail-DEL offers were quoted at the $385/st level in Iowa in early April.
Southern Plains:
Potash was unchanged at $370-$380/st FOB Catoosa/Inola and Houston for prompt truck tons. Potash prices from Intrepid FOB Carlsbad, N.M., included $460/st for 60% white granular and $468/st for 62% white standard.
South Central:
Potash slipped to $355-$370/st FOB warehouses in the South Central region, down from the prior $365-$375/st FOB range, with the low confirmed at Memphis and the high out of river terminals in Kentucky and Arkansas.
Southeast:
Potash remained at $340/st FOB Wilmington in early April, with reports of rail-DEL offers at the $365-$375/st level in the Southeast.
Northwest Europe:
Granular potash prices in Northwest Europe were flat at €355-€375/mt CIF, with seasonal demand still lagging. Standard potash prices were similarly stagnant at €325-€345/mt CIF.
Southeast Asia:
Potash prices in Southeast Asia were unchanged this week. Further clarity emerged ex-Indonesia, where Pupuk Holdings reportedly awarded its tender at $302/mt CFR after several weeks of negotiations with suppliers who were unwilling to budge below the $300/mt CFR mark.
Still, with the Eid holiday celebrating the end of Ramadan around the corner, market activity is expected to be subdued in the coming week. Some renewed market direction will likely also emerge once India settles its potash contract, which is reportedly in the final stages of negotiation.
Israel:
No further updates on FOB values ex-Israel were reported during the week, with the understanding that soaring freight rates continue to hamper potash deliveries and erode netbacks. Additionally, recent aerial attacks on Eilat, a major southern port where potash is loaded, could further disrupt the movement of products.
Brazil:
Brazil potash prices continued in the $300-$310/mt CFR range. Offers reported up to $320/mt CFR failed to attract buyers, sources said.
Following several weeks of rising prices, potash remained steady at $420-$435/mt FOB in Rondonópolis. Lower trade volumes were reported during the week, as demand has already been filled for a large portion of the market. Some suppliers were reportedly offering product only for the next soybean season.