U.S. Gulf/Tampa: March business was concluded at Tampa at $475/mt CFR, down $20/mt from February’s $495/mt CFR. Sources said most players were predicting at least some fall off for March from February. April appears less certain.
March NYMEX natural gas closed Feb. 19 at $2.834/mmBtu, up from Feb. 12’s $2.713/mmBtu.
Eastern Cornbelt: Sources continued to report the anhydrous ammonia market out of Illinois terminals at $610-$615/st FOB for prompt and $625/st FOB for prepay. The Indiana terminal market was pegged $10/st higher, with the prepay market quoted at the $635/st FOB level last week.
Western Cornbelt: Sources reported slightly softer prices for anhydrous ammonia in the Western Cornbelt. The range out of Iowa terminals was quoted at $575-$605/st FOB, with the lower numbers on the western side of the state and the higher end in eastern Iowa. The Palmyra, Mo., ammonia market was pegged at $610/st FOB.
Delivered ammonia from southern production points ranged from $580-$615/st in the region, with the low reported in Nebraska and the upper end in Missouri.
There were reports of low-priced ammonia tons moving briefly into eastern Iowa in the mid- to upper-$500s/st from East Dubuque, Ill., but those sales were short-lived and reportedly off the table last week. The low prices were attributed by industry sources to a quick sale of extra tons due to a pressure vessel leak at the plant, but Rentech Nitrogen told Green Markets on Feb. 19 that the company has suffered “no issues or leaks” at the East Dubuque plant.
Northern Plains: The ammonia market was pegged at $600-$610/st FOB in Minnesota, with delivered tons reported in the $630-$635/st range in North Dakota. There were reports of spring prepay also being offered at the $630/st level FOB Velva, N.D.
Sources continued to report inventory and logistics concerns ahead of the spring planting season. “Some are not covered well, and there is a trucking concern once we get going,” said one regional contact.
Eastern Canada: The anhydrous ammonia market FOB Courtright, Ont., had reportedly firmed to the $885/mt level for spring tons, up some $50/mt from last report.