US Gulf:
The NOLA potash market remained at $290-$300/st FOB for the latest business, unchanged from last week.
Potash was quoted at $340-$360/st FOB in the Eastern Cornbelt, with the low reported on the Illinois River. The Cincinnati market remained at $350-$355/st FOB for the latest offers. Sources said they expect summer fill programs to be announced soon.
Western Cornbelt:
Potash was flat at $340-$360/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis and the high in Iowa.
Southern Plains:
The potash market was reported at $350-$360/st FOB Catoosa/Inola, down from $355-$370/st FOB at last report. 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 dropped to $340-$365/st FOB regional warehouses in early June, down $5-$10/st from last report.
Southeast:
Potash was pegged at $335-$345/st FOB in the Southeast, with the low confirmed at Wilmington. Rail-DEL offers were reported at the $345-$365/st level in the region.
Northwest Europe:
Potash prices in Northwest Europe were unchanged for both granular and standard product this week amid continued muted demand.
Attention has turned toward new-season prices, which are eagerly awaited by buyers and should be issued in June. Granular prices in Northwest Europe remained at €340-€350/mt CIF, while standard potash was steady at €320-€330/mt CIF.
Southeast Asia:
Standard potash prices in the region were flat at $280-$300/mt CFR, while market participants continued to eye the long-awaited India contract settlement. Granular prices were also flat at $335-$355/mt CFR.
No updates were heard on the FACT India tender for 40,000 mt. The Pupuk Indonesia tender for 250,000 mt was reportedly awarded at $299/mt CFR, near the high end of the range, a fact which some interpret as a supportive signal for prices going forward.
Brazil:
Imported potash prices were steady at $305-$315/mt CFR. While some sellers expect rising prices in the short term, discounts are reportedly available for large-volume purchases.
With the potash market still within the season’s “ideal purchasing window,” players noted balanced supply and demand conditions at Rondonópolis. Pricing for the week was noted at $420-$445/mt FOB ex-warehouse, up $5/mt from the week-ago $440/mt FOB high.