US Gulf:
The NOLA potash market slipped to $290-$300/st FOB for confirmed business during the week, down slightly from last week’s $290-$305/st FOB range. Sources reported a relatively slow trading week as the industry awaits the release of summer fill programs, which are expected in mid-June.
Potash was steady at $340-$370/st FOB in the Eastern Cornbelt, with the low reported on the Illinois River and the high inland. The Cincinnati market slipped to $350-$355/st FOB for the latest offers, down from the prior $355-$370/st FOB level.
Western Cornbelt:
Potash was flat at $340-$365/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis and the high in Iowa.
Northern Plains:
The latest potash offers in the Northern Plains were quoted at $345-$365/st FOB St. Paul, with rail-DEL potash reported at the $360-$380/st level in the Northern Plains. Potash pricing FOB Saskatchewan mines was quoted at the $360-$365/st FOB, depending on grade.
Great Lakes:
Potash pricing in the Great Lakes region was quoted at $360-$383/st FOB, depending on location and grade, with the low reported for red and the high for white tons out of Michigan warehouses. Delivered red potash in central Michigan was pegged at the $388/st level.
Northeast:
Potash in the Northeast edged up to $385-$393/st FOB, depending on grade and location, with the high reported for white MOP. Rail-DEL potash was quoted in the $380-$385/st range in the region.
Eastern Canada:
Potash was steady at C$580/mt FOB regional warehouses for red granular tons in Eastern Canada.
Northwest Europe:
Granular potash prices in Northwest Europe were unchanged at €340-€350/mt CIF amid seasonally muted demand. Standard potash was quoted at €320-€330/mt CIF, €5/mt lower on the high end, with buyers still on the sidelines and expected to remain there until later in June when new-season demand kicks off.
Southeast Asia:
Standard potash prices in the region slipped to $280-$300/mt CFR as market participants continue to turn their attention to the India contract settlement. The low end of the range reflects Laotian product offered into nearby Indonesia and Thailand, where buyers are being swayed from Israeli and Jordanian product due to ongoing logistics difficulties in the Red Sea.
In Indonesia, Pupuk issued a tender for up to 250,000 mt, but no award was made public by press time. A standard potash bid in the tender was heard at $300/mt CFR but could not be confirmed. Granular potash remains at $335-$355/mt CFR, but sources said downward pressure on the market is building.
Thailand:
January-April potash imports firmed 80% year-over-year, according to Trade Data Monitor, to 242,000 mt from 135,000 mt. Canada shipped 88,000 mt, Laos sent 57,000 mt, and Belarus added 53,000 mt. April imports were 43,000 mt, a slight increase from the 40,000 mt received in the prior April.
Brazil:
Potash imports continued in the $305-$315/mt CFR range during the week, though discounts were reportedly available for high-volume purchases.
Inland prices were stable at $420-$440/mt FOB Rondonópolis. Despite limited remaining demand for the Brazil summer crop, potash continues to present a strong soybean barter ratio for producers in several regions.