US Gulf:
The NOLA potash market slipped to $295-$305/st FOB for confirmed trades during the week, down from last week’s $300-$305/st FOB range. While there were a few reports of business possibly done at the $290/st FOB mark, actual trades at that level were not confirmed.
Potash was quoted at $340-$370/st FOB in the Eastern Cornbelt, with the low reported on the Illinois River. The Cincinnati market was pegged at the $355-$370/st FOB level during the week.
Western Cornbelt:
Potash slipped to $340-$365/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis and the high in Iowa.
Southern Plains:
Potash remained at $355-$370/st FOB Catoosa/Inola for prompt truck tons. Potash reference prices from Intrepid FOB Carlsbad, N.M., were steady at $460/st for 60% white granular and $468/st for 62% white standard.
South Central:
South Central potash pricing remained at $350-$370/st FOB regional warehouses at mid-month.
Southeast:
Potash was pegged at $340-$350/st FOB in the Southeast for limited supply in mid-May. Rail-DEL offers were reported at the $365/st level in the region.
Northwest Europe:
Granular potash in Northwest Europe continued to see limited demand, resulting in stable prices week-over-week. With ample availability and prices on a downtrend globally, the expectation is that European prices will continue on this path. Standard potash was also indicated flat at €320-€335/mt CIF.
Southeast Asia:
Both standard and granular potash prices in Southeast Asia were unchanged at $280-$305/mt CFR and $335-$355/mt CFR, respectively. Some activity was reported on standard product, with several tenders by palm plantations reportedly awarded at the low end of the range.
Demand remains muted elsewhere in the region, however, as market players continue to await confirmation of the Indian contract amid intense chatter on a yet undisclosed settlement. Once the Indian contract is concluded, attention will shift to China, where contract negotiations are also underway.
Brazil:
With significant volumes already negotiated for the soybean season, Brazil potash imports continued at the $300-$310/mt CFR level.
Inland offers were noted at $430-$435/mt FOB Rondonópolis, narrowing from $425-$440/mt FOB last week, with players reporting a slow grain market and limited negations during the week.